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

Apogee Enterprises, Inc. (NASDAQ:APOGGet Free Report) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 762,000 shares, a decrease of 17.9% from the December 31st total of 927,700 shares. Based on an average daily volume of 186,600 shares, the days-to-cover ratio is currently 4.1 days. Currently, 3.5% of the company’s stock are short sold.

Institutional Trading of Apogee Enterprises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in APOG. GAMMA Investing LLC lifted its stake in shares of Apogee Enterprises by 43.2% in the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares in the last quarter. CWM LLC lifted its position in Apogee Enterprises by 19.9% during the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 190 shares in the last quarter. Diversified Trust Co lifted its position in Apogee Enterprises by 3.6% during the 3rd quarter. Diversified Trust Co now owns 6,943 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 243 shares in the last quarter. Moran Wealth Management LLC lifted its position in Apogee Enterprises by 0.3% during the 3rd quarter. Moran Wealth Management LLC now owns 98,367 shares of the industrial products company’s stock worth $6,887,000 after acquiring an additional 304 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Apogee Enterprises by 44.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Stock Down 1.7 %

Apogee Enterprises stock traded down $0.92 during mid-day trading on Friday, hitting $51.60. The company had a trading volume of 75,252 shares, compared to its average volume of 328,008. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 11.51 and a beta of 1.04. Apogee Enterprises has a 1 year low of $49.58 and a 1 year high of $87.93. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $69.03 and a 200 day moving average of $70.02.

Apogee Enterprises (NASDAQ:APOGGet Free Report) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The business had revenue of $341.30 million for the quarter, compared to analyst estimates of $332.27 million. During the same period last year, the firm posted $1.23 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, sell-side analysts expect that Apogee Enterprises will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Tuesday, January 28th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio (DPR) is currently 23.21%.

Analyst Ratings Changes

Several brokerages have recently issued reports on APOG. Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a research report on Tuesday, January 14th. DA Davidson cut their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. StockNews.com lowered shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Sidoti upgraded shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th.

Check Out Our Latest Stock Analysis on Apogee Enterprises

Apogee Enterprises Company Profile

(Get Free Report)

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).

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