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

Apogee Enterprises, Inc. (NASDAQ:APOG) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 1,140,000 shares, a decline 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 currently 7.5 days. Currently, 5.3% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, DA Davidson lifted their price objective on Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th.

Apogee Enterprises Trading Down 0.2 %

Shares of APOG stock opened at $61.59 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. Apogee Enterprises has a twelve month low of $41.01 and a twelve month high of $67.92. The company’s 50-day moving average price is $63.53 and its 200-day moving average price is $58.37. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.65 and a beta of 1.00.

Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Thursday, June 27th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.28. The company had revenue of $331.50 million for the quarter, compared to analyst estimates of $333.22 million. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. Apogee Enterprises’s revenue was down 8.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. As a group, equities analysts predict that Apogee Enterprises will post 4.86 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Wednesday, July 10th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, July 10th. Apogee Enterprises’s payout ratio is 20.53%.

Insider Transactions at Apogee Enterprises

In other news, Director Lloyd Emerson Johnson sold 24,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $63.13, for a total value of $1,515,120.00. Following the transaction, the director now owns 260 shares in the company, valued at $16,413.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Curtis John Dobler sold 3,548 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $62.67, for a total transaction of $222,353.16. Following the completion of the sale, the executive vice president now owns 30,369 shares of the company’s stock, valued at approximately $1,903,225.23. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Emerson Johnson sold 24,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $63.13, for a total transaction of $1,515,120.00. Following the completion of the sale, the director now owns 260 shares of the company’s stock, valued at approximately $16,413.80. The disclosure for this sale can be found here. Insiders sold 77,252 shares of company stock valued at $4,786,214 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Apogee Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its stake in 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 buying an additional 220,898 shares during the period. Norges Bank acquired a new position in Apogee Enterprises in the fourth quarter valued at approximately $7,893,000. Victory Capital Management Inc. increased its stake in Apogee Enterprises by 11.8% in the fourth 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 last quarter. American Century Companies Inc. increased its stake in Apogee Enterprises by 79.2% in the third quarter. American Century Companies Inc. now owns 198,272 shares of the industrial products company’s stock valued at $9,335,000 after purchasing an additional 87,650 shares during the last quarter. Finally, Invesco Ltd. lifted its position 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 buying an additional 71,915 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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).