Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low – Here’s What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $47.63 and last traded at $48.48, with a volume of 184038 shares changing hands. The stock had previously closed at $48.16.

Analyst Upgrades and Downgrades

Several research firms recently commented on APOG. Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. DA Davidson dropped their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a research report on Tuesday, January 14th.

Apogee Enterprises Trading Down 0.7 %

The company’s 50 day simple moving average is $56.99 and its 200-day simple moving average is $68.11. The firm has a market cap of $1.04 billion, a P/E ratio of 10.54 and a beta of 1.01. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. Apogee Enterprises’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $1.23 EPS. As a group, research analysts predict that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.20%. The ex-dividend date was Tuesday, January 28th. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio (DPR) is currently 23.21%.

Institutional Investors Weigh In On Apogee Enterprises

Several large investors have recently added to or reduced their stakes in APOG. Bank of Montreal Can raised its stake in shares of Apogee Enterprises by 4.0% during the fourth quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company’s stock valued at $552,000 after acquiring an additional 298 shares in the last quarter. Moran Wealth Management LLC increased its holdings in Apogee Enterprises by 0.3% during the 3rd quarter. Moran Wealth Management LLC now owns 98,367 shares of the industrial products company’s stock worth $6,887,000 after purchasing an additional 304 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in Apogee Enterprises by 44.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 396 shares in the last quarter. KBC Group NV lifted its holdings in shares of Apogee Enterprises by 46.7% in the 4th quarter. KBC Group NV now owns 1,282 shares of the industrial products company’s stock worth $92,000 after buying an additional 408 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Apogee Enterprises by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,436 shares of the industrial products company’s stock worth $888,000 after buying an additional 412 shares in 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).