Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low – Here’s What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price hit a new 52-week low during trading on Friday . The stock traded as low as $51.22 and last traded at $51.54, with a volume of 214685 shares trading hands. The stock had previously closed at $52.52.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday. DA Davidson decreased their price objective on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Apogee Enterprises Stock Performance

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.68 and a beta of 1.04. The stock’s 50-day moving average price is $76.95 and its 200-day moving average price is $70.73. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.65.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. As a group, equities research analysts expect that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.05%. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is presently 23.21%.

Institutional Investors Weigh In On Apogee Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP bought a new position in Apogee Enterprises during the third quarter worth $33,000. GAMMA Investing LLC raised its position in shares of Apogee Enterprises by 43.2% during the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after buying an additional 163 shares in the last quarter. Quarry LP lifted its position in Apogee Enterprises by 959.4% in the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Apogee Enterprises during the third quarter valued at about $58,000. Finally, CWM LLC grew its stake in shares of Apogee Enterprises by 19.9% in the 3rd quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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).