Man Group plc Makes New $1.06 Million Investment in Apogee Enterprises, Inc. $APOG

Man Group plc purchased a new stake in Apogee Enterprises, Inc. (NASDAQ:APOG) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 23,150 shares of the industrial products company’s stock, valued at approximately $1,059,000.

Several other institutional investors and hedge funds also recently made changes to their positions in APOG. BlackRock Inc. bought a new position in shares of Apogee Enterprises during the second quarter worth about $155,501,000. Millennium Management LLC lifted its stake in shares of Apogee Enterprises by 1,074.3% in the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock worth $14,836,000 after acquiring an additional 292,952 shares during the period. Federated Hermes Inc. boosted its holdings in Apogee Enterprises by 524.3% in the fourth quarter. Federated Hermes Inc. now owns 228,361 shares of the industrial products company’s stock valued at $8,315,000 after acquiring an additional 191,783 shares during the last quarter. Vanguard Group Inc. increased its position in Apogee Enterprises by 6.8% during the 4th quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company’s stock valued at $95,657,000 after purchasing an additional 166,402 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Apogee Enterprises during the 2nd quarter valued at approximately $6,228,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Trading Up 1.3%

Shares of APOG stock opened at $38.06 on Thursday. Apogee Enterprises, Inc. has a fifty-two week low of $30.75 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.34 and a current ratio of 1.76. The stock has a 50 day simple moving average of $41.18 and a two-hundred day simple moving average of $38.23. The company has a market cap of $794.24 million, a P/E ratio of 11.93, a PEG ratio of 1.06 and a beta of 1.14.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.14. The firm had revenue of $342.68 million for the quarter, compared to analysts’ expectations of $333.84 million. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.13) EPS. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. Research analysts forecast that Apogee Enterprises, Inc. will post 2.96 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, July 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $1.08 annualized dividend and a yield of 2.8%. Apogee Enterprises’s dividend payout ratio is currently 33.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APOG. Weiss Ratings upgraded shares of Apogee Enterprises from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th. Zacks Research cut shares of Apogee Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.