Summit Global Investments Invests $633,000 in Apogee Enterprises, Inc. (NASDAQ:APOG)

Summit Global Investments bought a new stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,861 shares of the industrial products company's stock, valued at approximately $633,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of APOG. Victory Capital Management Inc. boosted its position in Apogee Enterprises by 7.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,155,967 shares of the industrial products company's stock valued at $82,548,000 after buying an additional 75,438 shares during the period. Geode Capital Management LLC grew its stake in Apogee Enterprises by 1.4% in the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company's stock worth $37,131,000 after purchasing an additional 7,382 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Apogee Enterprises by 3.9% during the 4th quarter. Principal Financial Group Inc. now owns 117,770 shares of the industrial products company's stock worth $8,410,000 after purchasing an additional 4,373 shares during the period. FMR LLC raised its position in Apogee Enterprises by 12.5% during the 3rd quarter. FMR LLC now owns 104,690 shares of the industrial products company's stock valued at $7,330,000 after purchasing an additional 11,627 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Apogee Enterprises in the 3rd quarter worth $6,845,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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Apogee Enterprises Stock Down 1.4 %

APOG traded down $0.67 during trading on Thursday, hitting $47.54. The stock had a trading volume of 182,325 shares, compared to its average volume of 172,016. The stock has a 50 day simple moving average of $49.84 and a two-hundred day simple moving average of $65.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63. Apogee Enterprises, Inc. has a twelve month low of $45.33 and a twelve month high of $87.93. The company has a market capitalization of $1.04 billion, a PE ratio of 10.61 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the previous year, the business earned $1.23 EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts predict that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Tuesday, January 28th were paid a dividend of $0.26 per share. This is a positive change from Apogee Enterprises's previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a yield of 2.19%. Apogee Enterprises's dividend payout ratio is presently 23.21%.

Wall Street Analysts Forecast Growth

APOG has been the subject of several recent research reports. DA Davidson lowered their price objective on shares of Apogee Enterprises from $75.00 to $62.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Sidoti upgraded shares of Apogee Enterprises from a "neutral" rating to a "buy" rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Apogee Enterprises from a "strong-buy" rating to a "buy" rating in a research note on Thursday, January 9th. Finally, Singular Research raised Apogee Enterprises to a "moderate buy" rating in a research report on Tuesday, January 14th.

Apogee Enterprises 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).