Ritholtz Wealth Management Buys 7,178 Shares of Apogee Enterprises, Inc. (NASDAQ:APOG)

Ritholtz Wealth Management lifted its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 121.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,076 shares of the industrial products company’s stock after acquiring an additional 7,178 shares during the period. Ritholtz Wealth Management owned 0.06% of Apogee Enterprises worth $916,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 163 shares in the last quarter. Quarry LP lifted its position in Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 662 shares during the last quarter. Headlands Technologies LLC boosted its stake in Apogee Enterprises by 340.8% in the first quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 593 shares in the last quarter. EntryPoint Capital LLC increased its position in shares of Apogee Enterprises by 31.4% during the first quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 222 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Apogee Enterprises by 290.6% during the 2nd quarter. CWM LLC now owns 957 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 712 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG opened at $79.30 on Tuesday. The company has a 50 day simple moving average of $67.21 and a two-hundred day simple moving average of $64.15. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 16.28 and a beta of 0.98. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. Apogee Enterprises, Inc. has a 12 month low of $41.01 and a 12 month high of $86.22.

Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. The company had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, analysts predict that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Tuesday, October 22nd. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.53%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on APOG. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Tuesday. DA Davidson raised their price target on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th.

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).