Skylands Capital LLC Purchases 27,000 Shares of Apogee Enterprises Inc (APOG)
Skylands Capital LLC raised its position in Apogee Enterprises Inc (NASDAQ:APOG) by 14.1% during the fourth quarter, HoldingsChannel reports. The firm owned 218,050 shares of the industrial products company’s stock after buying an additional 27,000 shares during the period. Apogee Enterprises accounts for about 1.3% of Skylands Capital LLC’s holdings, making the stock its 18th largest holding. Skylands Capital LLC’s holdings in Apogee Enterprises were worth $9,971,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in Apogee Enterprises by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,338,196 shares of the industrial products company’s stock valued at $64,581,000 after purchasing an additional 22,442 shares in the last quarter. State Street Corp lifted its holdings in shares of Apogee Enterprises by 2.1% during the 2nd quarter. State Street Corp now owns 1,122,436 shares of the industrial products company’s stock worth $63,793,000 after acquiring an additional 23,385 shares during the period. Royce & Associates LP lifted its holdings in shares of Apogee Enterprises by 2.2% during the 3rd quarter. Royce & Associates LP now owns 758,078 shares of the industrial products company’s stock worth $36,585,000 after acquiring an additional 16,585 shares during the period. FMR LLC lifted its holdings in shares of Apogee Enterprises by 6.6% during the 2nd quarter. FMR LLC now owns 663,870 shares of the industrial products company’s stock worth $37,734,000 after acquiring an additional 41,150 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Apogee Enterprises by 16.7% during the 3rd quarter. Wells Fargo & Company MN now owns 595,664 shares of the industrial products company’s stock worth $28,746,000 after acquiring an additional 85,321 shares during the period. Institutional investors own 96.98% of the company’s stock.
Shares of Apogee Enterprises Inc (NASDAQ APOG) traded up $0.65 during mid-day trading on Tuesday, hitting $46.73. 210,400 shares of the stock traded hands, compared to its average volume of 300,156. The stock has a market cap of $1,327.94, a price-to-earnings ratio of 16.81, a P/E/G ratio of 1.53 and a beta of 1.62. Apogee Enterprises Inc has a 1-year low of $40.03 and a 1-year high of $61.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.32 and a current ratio of 1.79.
Apogee Enterprises declared that its board has approved a stock buyback plan on Tuesday, January 9th that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Tuesday, January 30th will be issued a dividend of $0.1575 per share. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.14. This represents a $0.63 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Monday, January 29th. Apogee Enterprises’s dividend payout ratio is presently 20.14%.
APOG has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. BidaskClub upgraded shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $63.33.
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Apogee Enterprises Company Profile
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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