Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Large Drop in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 795,500 shares, a decrease of 13.4% from the October 31st total of 918,200 shares. Currently, 3.7% of the shares of the company are sold short. Based on an average daily volume of 153,100 shares, the days-to-cover ratio is presently 5.2 days.

Apogee Enterprises Price Performance

Shares of APOG stock traded up $0.43 during mid-day trading on Friday, reaching $84.21. The company's stock had a trading volume of 54,775 shares, compared to its average volume of 137,188. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65. Apogee Enterprises has a 1-year low of $44.56 and a 1-year high of $87.93. The firm's 50-day moving average is $78.15 and its two-hundred day moving average is $68.79. The company has a market cap of $1.85 billion, a P/E ratio of 17.73 and a beta of 0.97.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.21. The business had revenue of $342.40 million for the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, research analysts predict that Apogee Enterprises will post 5.06 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises's dividend payout ratio is presently 21.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on APOG shares. StockNews.com cut shares of Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Friday, November 15th. DA Davidson upped their target price on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th.

Institutional Trading of Apogee Enterprises

Institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co raised its position in Apogee Enterprises by 7.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 19,964 shares of the industrial products company's stock worth $1,179,000 after acquiring an additional 1,459 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Apogee Enterprises by 1.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,772 shares of the industrial products company's stock worth $1,349,000 after acquiring an additional 428 shares in the last quarter. Comerica Bank raised its position in Apogee Enterprises by 28.9% during the first quarter. Comerica Bank now owns 13,062 shares of the industrial products company's stock worth $773,000 after acquiring an additional 2,925 shares in the last quarter. CWM LLC raised its position in Apogee Enterprises by 290.6% during the second quarter. CWM LLC now owns 957 shares of the industrial products company's stock worth $60,000 after acquiring an additional 712 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Apogee Enterprises by 178.7% during the second quarter. SG Americas Securities LLC now owns 35,168 shares of the industrial products company's stock worth $2,210,000 after acquiring an additional 22,549 shares in the last quarter. Institutional investors own 94.05% of the company's stock.

About Apogee Enterprises

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).