BlackRock Inc. decreased its holdings in Apogee Enterprises Inc (NASDAQ:APOG) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,645,250 shares of the industrial products company’s stock after selling 304,815 shares during the quarter. BlackRock Inc. owned about 12.83% of Apogee Enterprises worth $166,696,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in Apogee Enterprises by 79.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,486 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 1,100 shares during the period. SG Americas Securities LLC purchased a new stake in Apogee Enterprises in the third quarter worth $190,000. Miles Capital Inc. purchased a new stake in Apogee Enterprises in the fourth quarter worth $207,000. Crossmark Global Holdings Inc. bought a new position in Apogee Enterprises in the third quarter worth $259,000. Finally, Verity Asset Management Inc. bought a new position in Apogee Enterprises in the fourth quarter worth $278,000. 99.76% of the stock is owned by institutional investors.
In other Apogee Enterprises news, Director Sara L. Hays sold 2,229 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $45.46, for a total value of $101,330.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.10% of the stock is currently owned by corporate insiders.
Apogee Enterprises Inc (NASDAQ APOG) opened at $44.75 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $1,285.89, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.11 and a beta of 1.57. Apogee Enterprises Inc has a twelve month low of $40.03 and a twelve month high of $59.98.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, December 21st. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The firm had revenue of $356.50 million during the quarter, compared to the consensus estimate of $373.35 million. Apogee Enterprises had a return on equity of 17.99% and a net margin of 6.24%. Apogee Enterprises’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 EPS. equities analysts forecast that Apogee Enterprises Inc will post 3.05 EPS for the current year.
Apogee Enterprises declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, January 9th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Finally, ValuEngine downgraded Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $61.00.
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Apogee Enterprises Company Profile
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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