Apogee Enterprises (NASDAQ:APOG) Sets New 1-Year Low – What’s Next?

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

Wall Street Analyst Weigh In

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

Apogee Enterprises Stock Performance

The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.11 billion, a P/E ratio of 10.68 and a beta of 1.04. The stock has a fifty day moving average of $76.95 and a 200-day moving average of $70.73.

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

Apogee Enterprises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, January 28th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 2.05%. Apogee Enterprises’s payout ratio is 23.21%.

Institutional Trading of Apogee Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of APOG. Kingsview Wealth Management LLC acquired a new stake in shares of Apogee Enterprises in the third quarter valued at approximately $2,134,000. Renaissance Technologies LLC raised its holdings in Apogee Enterprises by 1,004.1% in the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after acquiring an additional 66,100 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Apogee Enterprises by 2,602.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 1,301 shares during the period. Geode Capital Management LLC grew its holdings in shares of Apogee Enterprises by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after purchasing an additional 7,382 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Apogee Enterprises by 23.2% in the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock worth $33,225,000 after purchasing an additional 99,495 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Company Profile

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).