Acadian Asset Management LLC Invests $3.55 Million in Apogee Enterprises, Inc. (NASDAQ:APOG)

Acadian Asset Management LLC purchased a new stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 56,516 shares of the industrial products company’s stock, valued at approximately $3,547,000. Acadian Asset Management LLC owned about 0.26% of Apogee Enterprises at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in APOG. SG Americas Securities LLC acquired a new stake in Apogee Enterprises in the first quarter valued at approximately $747,000. Hsbc Holdings PLC acquired a new stake in shares of Apogee Enterprises during the 4th quarter valued at $992,000. Vanguard Group Inc. grew its position in Apogee Enterprises by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock worth $165,429,000 after acquiring an additional 53,484 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Apogee Enterprises by 0.3% in the 4th quarter. Panagora Asset Management Inc. now owns 133,870 shares of the industrial products company’s stock worth $7,150,000 after purchasing an additional 401 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Apogee Enterprises by 7.9% in the first quarter. Los Angeles Capital Management LLC now owns 28,133 shares of the industrial products company’s stock valued at $1,665,000 after purchasing an additional 2,055 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Apogee Enterprises

In other news, insider Brent C. Jewell sold 5,000 shares of Apogee Enterprises stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total value of $321,700.00. Following the completion of the transaction, the insider now directly owns 23,405 shares of the company’s stock, valued at approximately $1,505,877.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Apogee Enterprises Trading Up 1.0 %

NASDAQ APOG opened at $63.28 on Friday. The firm has a market capitalization of $1.39 billion, a PE ratio of 12.99 and a beta of 0.98. The business’s 50-day moving average price is $63.67 and its two-hundred day moving average price is $61.91. The company has a current ratio of 1.64, a quick ratio of 1.29 and a debt-to-equity ratio of 0.16. Apogee Enterprises, Inc. has a 12 month low of $41.01 and a 12 month high of $70.64.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Thursday, June 27th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.16 by $0.28. The business had revenue of $331.50 million for the quarter, compared to analysts’ expectations of $333.22 million. Apogee Enterprises had a return on equity of 24.74% and a net margin of 7.72%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. On average, analysts expect that Apogee Enterprises, Inc. will post 4.86 EPS for the current year.

Apogee Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Wednesday, July 10th were issued a $0.25 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.00 annualized dividend and a yield of 1.58%. Apogee Enterprises’s payout ratio is 20.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com raised Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 26th. DA Davidson raised their price target on shares of Apogee Enterprises from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, June 28th.

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).