Principal Financial Group Inc. Boosts Stock Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Principal Financial Group Inc. lifted its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,770 shares of the industrial products company’s stock after acquiring an additional 4,373 shares during the period. Principal Financial Group Inc.’s holdings in Apogee Enterprises were worth $8,410,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in APOG. Caprock Group LLC purchased a new stake in Apogee Enterprises during the 4th quarter worth $225,000. KBC Group NV increased its position 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 purchasing an additional 408 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Apogee Enterprises in the 4th quarter valued at approximately $824,000. Endeavor Private Wealth Inc. acquired a new position in shares of Apogee Enterprises in the 4th quarter valued at about $32,000. Finally, Ritholtz Wealth Management raised its position in shares of Apogee Enterprises by 69.0% during the 4th quarter. Ritholtz Wealth Management now owns 22,095 shares of the industrial products company’s stock worth $1,578,000 after purchasing an additional 9,019 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on APOG shares. Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 9th. DA Davidson cut their price objective on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th.

Apogee Enterprises Stock Up 1.5 %

APOG opened at $47.94 on Friday. 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 company has a market capitalization of $1.05 billion, a PE ratio of 10.70 and a beta of 1.01. Apogee Enterprises, Inc. has a fifty-two week low of $46.76 and a fifty-two week high of $87.93. The business has a 50-day moving average of $56.04 and a 200-day moving average of $67.91.

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

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were issued a dividend of $0.26 per share. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, January 28th. This represents a $1.04 annualized dividend and a dividend yield of 2.17%. Apogee Enterprises’s payout ratio is presently 23.21%.

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).