Louisiana State Employees Retirement System Decreases Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Louisiana State Employees Retirement System reduced its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,600 shares of the industrial products company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Apogee Enterprises were worth $742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Dakota Wealth Management acquired a new stake in Apogee Enterprises during the 3rd quarter worth about $202,000. Assenagon Asset Management S.A. lifted its holdings in shares of Apogee Enterprises by 70.8% during the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock worth $11,369,000 after purchasing an additional 67,295 shares during the period. International Assets Investment Management LLC purchased a new stake in Apogee Enterprises in the third quarter valued at approximately $38,740,000. Allspring Global Investments Holdings LLC increased its holdings in Apogee Enterprises by 64.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 73,733 shares of the industrial products company’s stock worth $5,162,000 after buying an additional 28,845 shares during the period. Finally, Wedge Capital Management L L P NC increased its holdings in Apogee Enterprises by 31.2% in the 3rd quarter. Wedge Capital Management L L P NC now owns 17,894 shares of the industrial products company’s stock worth $1,253,000 after buying an additional 4,256 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Trading Up 1.2 %

APOG stock opened at $76.71 on Tuesday. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises, Inc. has a 52-week low of $43.56 and a 52-week high of $86.22. The company’s 50-day simple moving average is $71.05 and its 200-day simple moving average is $65.99. The firm has a market cap of $1.68 billion, a P/E ratio of 16.15 and a beta of 0.97.

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

Apogee Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.30%. Apogee Enterprises’s payout ratio is currently 21.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on APOG shares. StockNews.com raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 15th. DA Davidson boosted their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the company 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).