Acadian Asset Management LLC purchased a new stake in shares of Apergy Corp (NYSE:APY) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 14,832 shares of the company’s stock, valued at approximately $610,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund raised its position in shares of Apergy by 1.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,909 shares of the company’s stock valued at $837,000 after buying an additional 401 shares during the period. American International Group Inc. raised its position in shares of Apergy by 0.3% during the 4th quarter. American International Group Inc. now owns 157,649 shares of the company’s stock valued at $4,269,000 after buying an additional 428 shares during the period. Neuburgh Advisers LLC raised its position in shares of Apergy by 5.6% during the 4th quarter. Neuburgh Advisers LLC now owns 9,614 shares of the company’s stock valued at $260,000 after buying an additional 506 shares during the period. Great West Life Assurance Co. Can raised its position in shares of Apergy by 1.2% during the 1st quarter. Great West Life Assurance Co. Can now owns 46,839 shares of the company’s stock valued at $1,923,000 after buying an additional 552 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Apergy by 1.1% during the 4th quarter. Arizona State Retirement System now owns 55,511 shares of the company’s stock valued at $1,503,000 after buying an additional 596 shares during the period. 92.26% of the stock is currently owned by hedge funds and other institutional investors.
Apergy stock opened at $32.07 on Wednesday. Apergy Corp has a fifty-two week low of $25.85 and a fifty-two week high of $46.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.44. The company has a market capitalization of $2.54 billion and a P/E ratio of 22.27.
APY has been the topic of several analyst reports. Jefferies Financial Group lifted their price target on shares of Apergy to $49.00 and gave the company a “buy” rating in a research report on Monday, March 4th. They noted that the move was a valuation call. Barclays reaffirmed a “buy” rating and set a $42.00 price target on shares of Apergy in a research report on Wednesday, February 20th. Bank of America reiterated a “buy” rating and issued a $46.00 target price (up previously from $42.00) on shares of Apergy in a report on Wednesday, February 20th. Johnson Rice upgraded shares of Apergy from an “accumulate” rating to a “buy” rating and lifted their target price for the company from $45.00 to $48.00 in a report on Monday, March 11th. Finally, Zacks Investment Research upgraded shares of Apergy from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $45.80.
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Apergy Company Profile
Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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