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

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $37.70 and last traded at $37.83, with a volume of 66998 shares changing hands. The stock had previously closed at $38.65.

Analyst Ratings Changes

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

Apogee Enterprises Stock Performance

The company has a market cap of $848.03 million, a PE ratio of 8.77 and a beta of 0.97. The stock's 50 day simple moving average is $42.05 and its two-hundred day simple moving average is $54.00. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The industrial products company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.01). Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The firm had revenue of $345.69 million during the quarter, compared to analysts' expectations of $331.82 million. During the same period last year, the business posted $1.14 earnings per share. The company's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date was Tuesday, May 13th. Apogee Enterprises's payout ratio is currently 26.80%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in shares of Apogee Enterprises by 1.3% during the 1st quarter. Victory Capital Management Inc. now owns 1,170,654 shares of the industrial products company's stock valued at $54,236,000 after buying an additional 14,687 shares during the period. American Century Companies Inc. raised its stake in Apogee Enterprises by 9.9% during the first quarter. American Century Companies Inc. now owns 760,821 shares of the industrial products company's stock worth $35,249,000 after acquiring an additional 68,682 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in shares of Apogee Enterprises by 9.3% during the first quarter. Segall Bryant & Hamill LLC now owns 723,988 shares of the industrial products company's stock valued at $33,542,000 after acquiring an additional 61,430 shares during the period. LSV Asset Management grew its holdings in Apogee Enterprises by 5.6% in the 1st quarter. LSV Asset Management now owns 481,355 shares of the industrial products company's stock worth $22,301,000 after buying an additional 25,326 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Apogee Enterprises by 1,074.3% during the 1st quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company's stock worth $14,836,000 after buying an additional 292,952 shares in the last quarter. Hedge funds and other institutional investors 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).