Apogee Enterprises (NASDAQ:APOG) Reaches New 52-Week Low – What’s Next?

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $45.26 and last traded at $45.56, with a volume of 1967 shares. The stock had previously closed at $46.67.

Wall Street Analyst Weigh In

Several research analysts have issued reports on APOG shares. DA Davidson cut their price objective on 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 Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 9th. Finally, Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th.

Apogee Enterprises Stock Down 1.6 %

The firm has a market cap of $1.01 billion, a PE ratio of 10.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27. The business has a fifty day moving average price of $49.52 and a two-hundred day moving average price of $65.55.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $332.27 million. During the same period last year, the business earned $1.23 EPS. The firm’s revenue was up .5% compared to the same quarter last year. On average, analysts anticipate that Apogee Enterprises, Inc. will post 4.97 EPS for the current fiscal year.

Apogee Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend 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 23.21%.

Institutional Investors Weigh In On Apogee Enterprises

A number of hedge funds have recently bought and sold shares of APOG. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Apogee Enterprises during the 3rd quarter worth about $6,845,000. JPMorgan Chase & Co. increased its position in Apogee Enterprises by 87.9% in the 4th quarter. JPMorgan Chase & Co. now owns 186,744 shares of the industrial products company’s stock worth $13,335,000 after buying an additional 87,356 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Apogee Enterprises by 196.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,883 shares of the industrial products company’s stock worth $8,775,000 after buying an additional 81,400 shares during the last quarter. Norges Bank acquired a new position in shares of Apogee Enterprises during the fourth quarter worth approximately $5,698,000. Finally, American Century Companies Inc. boosted its position in shares of Apogee Enterprises by 12.9% in the fourth quarter. American Century Companies Inc. now owns 692,139 shares of the industrial products company’s stock valued at $49,426,000 after acquiring an additional 79,009 shares during the period. 94.05% of the stock is currently owned by institutional investors.

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).