Short Interest in Apogee Enterprises, Inc. (NASDAQ:APOG) Declines By 13.1%

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 877,700 shares, a decline of 13.1% from the September 30th total of 1,010,000 shares. Based on an average trading volume of 139,200 shares, the short-interest ratio is presently 6.3 days. Currently, 4.1% of the company's shares are short sold.

Institutional Investors Weigh In On Apogee Enterprises

A number of institutional investors have recently modified their holdings of APOG. SG Americas Securities LLC acquired a new stake in shares of Apogee Enterprises during the first quarter worth about $747,000. Acadian Asset Management LLC acquired a new stake in shares of Apogee Enterprises during the 2nd quarter worth about $3,547,000. Vanguard Group Inc. raised its holdings in Apogee Enterprises by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company's stock worth $165,429,000 after purchasing an additional 53,484 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Apogee Enterprises by 1,004.1% during the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company's stock worth $4,567,000 after buying an additional 66,100 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Apogee Enterprises by 115,311.1% in the 2nd quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company's stock valued at $653,000 after buying an additional 10,378 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on APOG. StockNews.com upgraded shares of Apogee Enterprises from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, October 15th. DA Davidson lifted their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a "neutral" rating in a research report on Tuesday, October 8th.

Apogee Enterprises Trading Down 1.1 %

Shares of NASDAQ APOG traded down $0.85 during mid-day trading on Tuesday, reaching $75.84. 100,343 shares of the company's stock were exchanged, compared to its average volume of 148,163. The company's 50-day moving average is $70.18 and its 200-day moving average is $65.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.75 and a beta of 0.98. Apogee Enterprises has a 52-week low of $41.39 and a 52-week high of $86.22.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $342.40 million during the quarter, compared to analysts' expectations of $335.31 million. During the same period last year, the business earned $1.36 earnings per share. The business's revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Apogee Enterprises will post 5.06 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.32%. Apogee Enterprises's dividend payout ratio is currently 20.53%.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).