Apogee Enterprises, Inc. (APOG) Position Boosted by Bank of America Corp DE
Bank of America Corp DE raised its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 24.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 335,527 shares of the industrial products company’s stock after buying an additional 66,763 shares during the period. Bank of America Corp DE owned approximately 1.17% of Apogee Enterprises worth $20,001,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APOG. Ameritas Investment Partners Inc. acquired a new position in Apogee Enterprises during the first quarter worth about $146,000. State of Alaska Department of Revenue increased its position in Apogee Enterprises by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after buying an additional 60 shares during the last quarter. Teza Capital Management LLC acquired a new position in Apogee Enterprises during the first quarter worth about $234,000. Intrust Bank NA increased its position in Apogee Enterprises by 8.5% in the first quarter. Intrust Bank NA now owns 4,282 shares of the industrial products company’s stock worth $255,000 after buying an additional 336 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in Apogee Enterprises by 5.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 4,490 shares of the industrial products company’s stock worth $268,000 after buying an additional 241 shares during the last quarter.
Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) traded up 0.65% during mid-day trading on Friday, hitting $52.31. 84,054 shares of the company were exchanged. The firm has a 50 day moving average of $54.71 and a 200 day moving average of $55.82. Apogee Enterprises, Inc. has a 12-month low of $39.88 and a 12-month high of $61.00. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 17.91 and a beta of 1.56.
Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.09. The company had revenue of $272.30 million during the quarter, compared to analyst estimates of $271.13 million. Apogee Enterprises had a return on equity of 18.59% and a net margin of 7.39%. Apogee Enterprises’s revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities research analysts forecast that Apogee Enterprises, Inc. will post $3.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, July 10th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, July 6th. Apogee Enterprises’s dividend payout ratio is currently 19.24%.
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APOG has been the topic of a number of research reports. BidaskClub downgraded shares of Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Sidoti initiated coverage on shares of Apogee Enterprises in a research report on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, April 21st. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company. Apogee Enterprises presently has an average rating of “Buy” and a consensus target price of $64.75.
In related news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.70% of the stock is owned by insiders.
About Apogee Enterprises
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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