Apogee Enterprises (NASDAQ:APOG) Sets New 1-Year Low - Here's What Happened

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) reached a new 52-week low on Wednesday . The company traded as low as $37.57 and last traded at $37.73, with a volume of 62400 shares changing hands. The stock had previously closed at $37.91.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Apogee Enterprises from a "buy" rating to a "hold" rating in a report on Friday, April 25th.

Apogee Enterprises Trading Down 0.9%

The business has a 50 day simple moving average of $40.91 and a 200 day simple moving average of $51.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.55 and a quick ratio of 1.23. The company has a market cap of $810.60 million, a price-to-earnings ratio of 9.69 and a beta of 0.97.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.01). Apogee Enterprises had a return on equity of 21.81% and a net margin of 6.25%. The company had revenue of $345.69 million for the quarter, compared to analyst estimates of $331.82 million. During the same quarter last year, the company earned $1.14 EPS. The firm's quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities analysts forecast that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Tuesday, May 13th. Apogee Enterprises's dividend payout ratio (DPR) is presently 26.80%.

Hedge Funds Weigh In On Apogee Enterprises

Hedge funds have recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC acquired a new position in shares of Apogee Enterprises during the 4th quarter worth about $40,000. Public Employees Retirement System of Ohio acquired a new position in Apogee Enterprises during the fourth quarter valued at approximately $42,000. Financial Gravity Asset Management Inc. bought a new stake in Apogee Enterprises in the first quarter valued at approximately $44,000. Meeder Asset Management Inc. bought a new stake in Apogee Enterprises in the fourth quarter valued at approximately $57,000. Finally, Quarry LP boosted its position in shares of Apogee Enterprises by 3,991.1% during the first quarter. Quarry LP now owns 1,841 shares of the industrial products company's stock worth $85,000 after purchasing an additional 1,796 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

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).