King Luther Capital Management Corp decreased its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 9.9% during the first quarter, Holdings Channel reports. The fund owned 38,255 shares of the industrial products company’s stock after selling 4,195 shares during the period. King Luther Capital Management Corp’s holdings in Apogee Enterprises were worth $2,280,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Apogee Enterprises by 19,368.0% in the first quarter. BlackRock Inc. now owns 4,227,467 shares of the industrial products company’s stock worth $252,000,000 after buying an additional 4,205,752 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Apogee Enterprises by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,297,609 shares of the industrial products company’s stock worth $77,350,000 after buying an additional 5,046 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Apogee Enterprises by 7.0% in the first quarter. Kennedy Capital Management Inc. now owns 368,490 shares of the industrial products company’s stock worth $21,966,000 after buying an additional 24,094 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Apogee Enterprises by 4.5% in the first quarter. Geode Capital Management LLC now owns 266,307 shares of the industrial products company’s stock worth $15,874,000 after buying an additional 11,371 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Apogee Enterprises by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,562,618 shares of the industrial products company’s stock worth $152,757,000 after buying an additional 135,949 shares during the last quarter.
Apogee Enterprises, Inc. (NASDAQ:APOG) traded down 1.17% during midday trading on Friday, hitting $55.53. The stock had a trading volume of 301,464 shares. The company has a market cap of $1.59 billion, a P/E ratio of 18.70 and a beta of 1.60. The stock’s 50-day moving average is $54.54 and its 200-day moving average is $55.12. Apogee Enterprises, Inc. has a one year low of $39.88 and a one year high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, April 13th. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.72 by $0.08. The company had revenue of $314.13 million during the quarter, compared to analysts’ expectations of $291.18 million. Apogee Enterprises had a net margin of 7.70% and a return on equity of 19.14%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Equities analysts predict that Apogee Enterprises, Inc. will post $3.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Friday, May 19th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Wednesday, May 17th. Apogee Enterprises’s dividend payout ratio (DPR) is 18.92%.
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A number of equities analysts have issued reports on the company. Sidoti started coverage on Apogee Enterprises in a research note on Thursday, May 25th. They set a “buy” rating and a $70.00 price target for the company. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $60.40.
In other news, CEO Joseph F. Puishys sold 40,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $56.13, for a total value of $2,245,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 180,000 shares of company stock valued at $10,084,600 in the last three months. 3.70% of the stock is owned by company insiders.
About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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