Apogee Enterprises (APOG) Hits New 12-Month Low at $33.62

Apogee Enterprises Inc (NASDAQ:APOG) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $33.62 and last traded at $33.98, with a volume of 10786 shares traded. The stock had previously closed at $34.10.

APOG has been the subject of several research reports. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, July 4th. TheStreet lowered shares of Apogee Enterprises from a “b” rating to a “c+” rating in a research report on Tuesday, October 2nd. DA Davidson set a $48.00 target price on shares of Apogee Enterprises and gave the stock a “hold” rating in a research report on Wednesday, September 19th. BidaskClub lowered shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, August 4th. Finally, ValuEngine upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Apogee Enterprises presently has a consensus rating of “Hold” and an average price target of $50.25.

The company has a current ratio of 1.73, a quick ratio of 1.33 and a debt-to-equity ratio of 0.42. The stock has a market cap of $961.02 million, a PE ratio of 10.81, a PEG ratio of 1.07 and a beta of 1.50.



Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.09). Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The business had revenue of $362.10 million for the quarter, compared to analysts’ expectations of $364.57 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts forecast that Apogee Enterprises Inc will post 3.2 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Tuesday, October 23rd will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Monday, October 22nd. This represents a $0.63 annualized dividend and a yield of 1.88%. Apogee Enterprises’s payout ratio is 20.32%.

Apogee Enterprises announced that its board has initiated a stock repurchase plan on Wednesday, October 3rd that allows the company to buyback 2,000,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other Apogee Enterprises news, Director Herbert K. Parker purchased 5,000 shares of the business’s stock in a transaction on Thursday, September 27th. The stock was acquired at an average cost of $41.52 per share, for a total transaction of $207,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Apogee Enterprises during the second quarter valued at about $1,537,000. Glenmede Trust Co. NA raised its stake in Apogee Enterprises by 3.0% in the second quarter. Glenmede Trust Co. NA now owns 835,930 shares of the industrial products company’s stock worth $40,267,000 after buying an additional 24,677 shares in the last quarter. Sei Investments Co. raised its stake in Apogee Enterprises by 509.0% in the second quarter. Sei Investments Co. now owns 59,659 shares of the industrial products company’s stock worth $2,873,000 after buying an additional 49,863 shares in the last quarter. Royce & Associates LP raised its stake in Apogee Enterprises by 57.4% in the second quarter. Royce & Associates LP now owns 1,226,629 shares of the industrial products company’s stock worth $59,087,000 after buying an additional 447,453 shares in the last quarter. Finally, BlackRock Inc. raised its stake in Apogee Enterprises by 6.7% in the second quarter. BlackRock Inc. now owns 3,837,104 shares of the industrial products company’s stock worth $184,833,000 after buying an additional 241,165 shares in the last quarter. 98.89% of the stock is owned by hedge funds and other institutional investors.

About Apogee Enterprises (NASDAQ:APOG)

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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