Apogee Enterprises, Inc. (NASDAQ:APOG) Short Interest Update

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 558,900 shares, a decrease of 10.9% from the January 15th total of 627,400 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average trading volume of 230,100 shares, the short-interest ratio is currently 2.4 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. DA Davidson reduced their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th. Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com lowered shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th.

Apogee Enterprises Price Performance

Shares of NASDAQ APOG traded up $0.26 during trading on Friday, hitting $49.56. 191,429 shares of the company were exchanged, compared to its average volume of 276,058. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 11.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27. Apogee Enterprises has a 1 year low of $48.86 and a 1 year high of $87.93. The firm’s fifty day moving average price is $61.60 and its 200 day moving average price is $68.93.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. During the same quarter in the previous year, the company posted $1.23 EPS. The business’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts expect that Apogee Enterprises will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is currently 23.21%.

Institutional Trading of Apogee Enterprises

Institutional investors have recently modified their holdings of the company. Kingsview Wealth Management LLC purchased a new position in Apogee Enterprises in the 3rd quarter worth approximately $2,134,000. Farther Finance Advisors LLC raised 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 in the last quarter. Geode Capital Management LLC raised its position 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 valued at $37,131,000 after acquiring an additional 7,382 shares in the last quarter. Inspire Investing LLC acquired a new stake in shares of Apogee Enterprises during the 4th quarter valued at approximately $824,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Apogee Enterprises in the third quarter worth $1,800,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Apogee Enterprises

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).