Apogee Enterprises (NASDAQ:APOG) Hits New 12-Month High on Earnings Beat

Apogee Enterprises, Inc. (NASDAQ:APOG)’s stock price reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $62.99 and last traded at $61.47, with a volume of 57760 shares. The stock had previously closed at $55.92.

The industrial products company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.17. Apogee Enterprises had a return on equity of 23.47% and a net margin of 7.44%. The firm had revenue of $361.80 million for the quarter, compared to the consensus estimate of $337.84 million. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently added to or reduced their stakes in APOG. Bank of New York Mellon Corp lifted its position in Apogee Enterprises by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 364,212 shares of the industrial products company’s stock worth $17,285,000 after buying an additional 1,767 shares during the period. Bank of Montreal Can raised its holdings in shares of Apogee Enterprises by 4.3% in the 1st quarter. Bank of Montreal Can now owns 20,030 shares of the industrial products company’s stock worth $986,000 after purchasing an additional 833 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Apogee Enterprises by 58.3% in the 1st quarter. MetLife Investment Management LLC now owns 13,292 shares of the industrial products company’s stock worth $631,000 after purchasing an additional 4,895 shares during the period. Rhumbline Advisers raised its holdings in shares of Apogee Enterprises by 0.6% in the 1st quarter. Rhumbline Advisers now owns 70,989 shares of the industrial products company’s stock worth $3,369,000 after purchasing an additional 404 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Apogee Enterprises by 11.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,436 shares of the industrial products company’s stock worth $1,017,000 after purchasing an additional 2,288 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Trading Down 3.2 %

The business has a fifty day moving average price of $57.19 and a 200 day moving average price of $51.73. The company has a market capitalization of $1.28 billion, a PE ratio of 12.30 and a beta of 1.10. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 1.57.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and installs custom glass and aluminum windows, curtainwalls, storefront, and entrance systems for the exterior of buildings primarily in the commercial, institutional, and multi-family residential construction sectors.