Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Significant Drop in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a large drop in short interest during the month of June. As of June 15th, there was short interest totalling 1,140,000 shares, a drop of 7.3% from the May 31st total of 1,230,000 shares. Based on an average daily volume of 151,100 shares, the short-interest ratio is presently 7.5 days. Currently, 5.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, DA Davidson lifted their price objective on shares of Apogee Enterprises from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday.

Apogee Enterprises Stock Performance

Apogee Enterprises stock traded down $0.13 during mid-day trading on Tuesday, reaching $61.59. The company’s stock had a trading volume of 385,202 shares, compared to its average volume of 148,714. Apogee Enterprises has a 12-month low of $41.01 and a 12-month high of $67.92. The company has a market capitalization of $1.36 billion, a P/E ratio of 12.65 and a beta of 1.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 1.64. The firm’s fifty day moving average price is $63.53 and its two-hundred day moving average price is $58.37.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Thursday, June 27th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.16 by $0.28. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The firm had revenue of $331.50 million during the quarter, compared to the consensus estimate of $333.22 million. During the same period last year, the firm earned $1.05 EPS. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. Sell-side analysts predict that Apogee Enterprises will post 4.86 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Wednesday, July 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, July 10th. Apogee Enterprises’s payout ratio is 20.53%.

Insider Transactions at Apogee Enterprises

In other news, insider Brent C. Jewell sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $61.79, for a total transaction of $463,425.00. Following the completion of the sale, the insider now owns 66 shares in the company, valued at approximately $4,078.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Brent C. Jewell sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $61.79, for a total transaction of $463,425.00. Following the completion of the sale, the insider now owns 66 shares in the company, valued at approximately $4,078.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Curtis John Dobler sold 3,797 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $60.46, for a total transaction of $229,566.62. Following the sale, the executive vice president now owns 32,653 shares of the company’s stock, valued at approximately $1,974,200.38. The disclosure for this sale can be found here. Insiders sold a total of 77,252 shares of company stock worth $4,786,214 in the last quarter. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Apogee Enterprises by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock valued at $165,429,000 after purchasing an additional 53,484 shares during the period. Victory Capital Management Inc. boosted its holdings in Apogee Enterprises by 11.8% in the 4th quarter. Victory Capital Management Inc. now owns 1,141,762 shares of the industrial products company’s stock valued at $60,982,000 after purchasing an additional 120,882 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Apogee Enterprises by 69.8% during the 4th quarter. Pacer Advisors Inc. now owns 537,470 shares of the industrial products company’s stock worth $28,706,000 after acquiring an additional 220,898 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Apogee Enterprises by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,235 shares of the industrial products company’s stock worth $20,255,000 after acquiring an additional 9,092 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Apogee Enterprises by 32.3% during the 3rd quarter. Invesco Ltd. now owns 294,513 shares of the industrial products company’s stock worth $13,866,000 after acquiring an additional 71,915 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

About Apogee Enterprises

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).