Apogee Enterprises (NASDAQ:APOG) Releases Earnings Results, Beats Estimates By $0.06 EPS

Apogee Enterprises (NASDAQ:APOG - Get Free Report) posted its quarterly earnings results on Friday. The industrial products company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06, Zacks reports. Apogee Enterprises had a net margin of 6.25% and a return on equity of 21.81%.

Apogee Enterprises Stock Performance

Shares of APOG stock opened at $39.67 on Friday. Apogee Enterprises has a 12-month low of $37.53 and a 12-month high of $87.93. The business's fifty day simple moving average is $40.04 and its 200-day simple moving average is $49.42. The company has a current ratio of 1.55, a quick ratio of 1.23 and a debt-to-equity ratio of 0.58. The company has a market cap of $855.68 million, a PE ratio of 10.22 and a beta of 0.97.

Apogee Enterprises Dividend Announcement

The company also recently announced 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. This represents a $1.04 dividend on an annualized basis and a yield of 2.62%. Apogee Enterprises's payout ratio is 26.80%.

Wall Street Analyst Weigh In

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

Institutional Trading of Apogee Enterprises

A number of institutional investors have recently made changes to their positions in APOG. Royal Bank of Canada raised its stake in Apogee Enterprises by 40.3% in the first quarter. Royal Bank of Canada now owns 8,515 shares of the industrial products company's stock valued at $395,000 after buying an additional 2,447 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Apogee Enterprises by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company's stock valued at $602,000 after purchasing an additional 556 shares during the last quarter. AQR Capital Management LLC boosted its stake in Apogee Enterprises by 24.0% in the 1st quarter. AQR Capital Management LLC now owns 59,999 shares of the industrial products company's stock worth $2,780,000 after purchasing an additional 11,608 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of Apogee Enterprises by 120.3% in the first quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company's stock worth $3,673,000 after buying an additional 43,297 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Apogee Enterprises by 1,074.3% during the first 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 during the period. 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).

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