JPMorgan Chase & Co. Grows Stock Position in Apogee Enterprises, Inc. $APOG

JPMorgan Chase & Co. grew its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 24.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 251,205 shares of the industrial products company’s stock after buying an additional 48,837 shares during the period. JPMorgan Chase & Co. owned 1.17% of Apogee Enterprises worth $10,199,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in APOG. Financial Gravity Companies Inc. purchased a new stake in Apogee Enterprises during the second quarter valued at about $38,000. Quarry LP lifted its stake in shares of Apogee Enterprises by 3,991.1% during the 1st quarter. Quarry LP now owns 1,841 shares of the industrial products company’s stock valued at $85,000 after buying an additional 1,796 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new position in Apogee Enterprises in the 2nd quarter worth approximately $86,000. CWM LLC lifted its position in shares of Apogee Enterprises by 98.1% during the second quarter. CWM LLC now owns 2,451 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 1,214 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in Apogee Enterprises by 8.5% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,026 shares of the industrial products company’s stock worth $204,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Stock Up 0.5%

APOG stock opened at $37.83 on Tuesday. The company’s 50 day moving average is $37.63 and its 200 day moving average is $40.33. The stock has a market cap of $813.72 million, a price-to-earnings ratio of 18.54 and a beta of 1.12. The company has a current ratio of 1.76, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Apogee Enterprises, Inc. has a 1-year low of $32.77 and a 1-year high of $83.43.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Friday, October 10th. The industrial products company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.14. The business had revenue of $358.19 million during the quarter, compared to analysts’ expectations of $350.91 million. Apogee Enterprises had a net margin of 3.19% and a return on equity of 15.76%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.44 EPS. Sell-side analysts predict that Apogee Enterprises, Inc. will post 4.97 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Wednesday, October 29th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, October 29th. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 50.98%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. DA Davidson raised Apogee Enterprises from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a report on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Apogee Enterprises in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Apogee Enterprises presently has an average rating of “Moderate Buy” and an average target price of $47.00.

Apogee Enterprises 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).