Apogee Enterprises (NASDAQ:APOG) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen has downgraded Apogee Enterprises from a buy rating to a hold rating.
• DA Davidson has adjusted its price target for Apogee from $47.00 to $45.00 while maintaining a neutral rating.
• Apogee Enterprises recently announced a quarterly dividend of $0.26 per share, which will be paid on July 31, contributing to an annualized dividend yield of 2.42%.

Wall Street Zen lowered shares of Apogee Enterprises (NASDAQ:APOG - Free Report) from a buy rating to a hold rating in a research report released on Saturday.

Separately, DA Davidson decreased their price target on Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st.

Apogee Enterprises Stock Performance

APOG traded up $0.48 during trading on Friday, reaching $42.89. The company's stock had a trading volume of 101,486 shares, compared to its average volume of 343,100. Apogee Enterprises has a 52-week low of $37.53 and a 52-week high of $87.93. The company's fifty day moving average price is $40.52 and its 200-day moving average price is $44.98. The company has a market capitalization of $923.42 million, a price-to-earnings ratio of 18.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.36 and a current ratio of 1.77.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings results on Friday, June 27th. The industrial products company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The business had revenue of $346.62 million for the quarter, compared to analyst estimates of $326.08 million. Apogee Enterprises had a return on equity of 17.79% and a net margin of 3.73%. The company's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 EPS. On average, equities analysts forecast that Apogee Enterprises will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.42%. Apogee Enterprises's dividend payout ratio is currently 44.44%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC raised its position in shares of Apogee Enterprises by 2.2% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,185 shares of the industrial products company's stock worth $611,000 after purchasing an additional 282 shares during the last quarter. Bank of Montreal Can raised its holdings in Apogee Enterprises by 4.0% in the 4th quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company's stock valued at $552,000 after acquiring an additional 298 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in Apogee Enterprises by 8.5% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 5,026 shares of the industrial products company's stock valued at $204,000 after acquiring an additional 393 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Apogee Enterprises by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,436 shares of the industrial products company's stock valued at $888,000 after acquiring an additional 412 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Apogee Enterprises by 6.5% in the 4th quarter. Sterling Capital Management LLC now owns 6,986 shares of the industrial products company's stock valued at $499,000 after acquiring an additional 427 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Apogee Enterprises

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).