Assenagon Asset Management S.A. Raises Stock Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Assenagon Asset Management S.A. boosted its position in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 70.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 162,379 shares of the industrial products company's stock after purchasing an additional 67,295 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.74% of Apogee Enterprises worth $11,369,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Apogee Enterprises by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company's stock worth $165,429,000 after acquiring an additional 53,484 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Apogee Enterprises by 15.5% in the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company's stock valued at $57,620,000 after acquiring an additional 122,811 shares during the period. American Century Companies Inc. raised its stake in Apogee Enterprises by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company's stock worth $33,225,000 after acquiring an additional 99,495 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Apogee Enterprises by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company's stock valued at $19,053,000 after purchasing an additional 3,881 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Apogee Enterprises by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company's stock valued at $8,582,000 after purchasing an additional 5,964 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG traded up $1.75 during trading on Monday, reaching $76.69. 155,227 shares of the company traded hands, compared to its average volume of 148,393. The stock has a market cap of $1.68 billion, a P/E ratio of 15.75 and a beta of 0.98. The firm's fifty day simple moving average is $70.18 and its 200 day simple moving average is $65.45. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. Apogee Enterprises, Inc. has a 12-month low of $41.39 and a 12-month 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.21. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a return on equity of 24.12% and a net margin of 7.58%. Apogee Enterprises's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 earnings per share. As a group, research analysts anticipate that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. Apogee Enterprises's payout ratio is 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).