Apogee Enterprises, Inc. $APOG Stock: ProShare Advisors LLC Increases Stake

Key Points

• ProShare Advisors increased its Apogee Enterprises stake by 45.5% in the third quarter, to 247,741 shares valued at about $8.76 million. Hedge funds and other institutions collectively own 94.05% of the stock.
• Apogee reported quarterly EPS of $1.17, beating the $0.59 consensus, on revenue of $391.13 million, up 9.2% year over year. The company set FY 2027 EPS guidance of $3.00–$3.40.
• Analysts’ consensus rating is Buy, with an average price target of $70.50. Apogee also paid a $0.27 quarterly dividend, equivalent to a 2.3% annualized yield.

ProShare Advisors LLC boosted its position in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 45.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 247,741 shares of the industrial products company's stock after purchasing an additional 77,452 shares during the quarter. ProShare Advisors LLC owned approximately 1.19% of Apogee Enterprises worth $8,763,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Apogee Enterprises during the 2nd quarter worth approximately $2,609,000. Gabelli Funds LLC boosted its stake in Apogee Enterprises by 427.3% in the first quarter. Gabelli Funds LLC now owns 53,852 shares of the industrial products company's stock valued at $1,806,000 after acquiring an additional 43,639 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Apogee Enterprises in the second quarter valued at approximately $6,228,000. Sei Investments Co. grew its holdings in Apogee Enterprises by 99.8% in the first quarter. Sei Investments Co. now owns 61,565 shares of the industrial products company's stock worth $2,065,000 after purchasing an additional 30,748 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Apogee Enterprises by 7.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,063,485 shares of the industrial products company's stock worth $35,668,000 after purchasing an additional 78,200 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APOG has been the subject of several analyst reports. Weiss Ratings upgraded Apogee Enterprises from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. Zacks Research upgraded Apogee Enterprises from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 16th. Finally, Wall Street Zen raised Apogee Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $70.50.

Apogee Enterprises Stock Up 4.6%

APOG stock opened at $47.98 on Thursday. The stock has a market capitalization of $1.00 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.14 and a beta of 1.05. Apogee Enterprises, Inc. has a 52 week low of $30.75 and a 52 week high of $50.88. The company has a quick ratio of 1.34, a current ratio of 1.78 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average of $40.08 and a 200 day moving average of $38.76.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 6th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.58. The business had revenue of $391.13 million for the quarter, compared to analyst estimates of $362.61 million. Apogee Enterprises had a net margin of 4.68% and a return on equity of 15.20%. Apogee Enterprises's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. Apogee Enterprises has set its FY 2027 guidance at 3.000-3.400 EPS. Sell-side analysts forecast that Apogee Enterprises, Inc. will post 3.37 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 4th. Investors of record on Tuesday, October 20th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, October 20th. Apogee Enterprises's dividend payout ratio is presently 34.18%.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc is a manufacturer and distributor of architectural products and services for commercial, institutional and other building projects. The company provides solutions designed to support the building envelope, including high-performance architectural glass, aluminum windows, curtainwall and storefront framing systems, and related components.

Apogee also provides installation and building-envelope services, helping customers with the design, fabrication and construction of exterior glass and framing systems.

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