Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week Low - Here's Why

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $38.06 and last traded at $38.66, with a volume of 254841 shares changing hands. The stock had previously closed at $38.88.

Wall Street Analysts Forecast Growth

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

Apogee Enterprises Stock Performance

The company has a market cap of $833.58 million, a PE ratio of 8.63 and a beta of 0.99. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $43.12 and a 200-day moving average of $55.87.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $331.82 million. During the same quarter last year, the company posted $1.14 EPS. The firm's revenue was down 4.4% on a year-over-year basis. Equities research analysts anticipate that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.69%. Apogee Enterprises's dividend payout ratio is currently 26.80%.

Institutional Trading of Apogee Enterprises

A number of hedge funds have recently made changes to their positions in APOG. New Age Alpha Advisors LLC bought a new stake in shares of Apogee Enterprises in the 4th quarter worth approximately $40,000. Public Employees Retirement System of Ohio bought a new position in Apogee Enterprises in the 4th quarter valued at approximately $42,000. Financial Gravity Asset Management Inc. bought a new position in shares of Apogee Enterprises during the 1st quarter valued at $44,000. Meeder Asset Management Inc. purchased a new stake in Apogee Enterprises in the 4th quarter worth $57,000. Finally, Quarry LP lifted its holdings in shares of Apogee Enterprises by 3,991.1% in the 1st quarter. Quarry LP now owns 1,841 shares of the industrial products company's stock valued at $85,000 after acquiring an additional 1,796 shares during the last quarter. 94.05% of the stock is owned by institutional investors.

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).