Gallacher Capital Management LLC Raises Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Gallacher Capital Management LLC increased its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 180.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,104 shares of the industrial products company's stock after purchasing an additional 6,500 shares during the period. Gallacher Capital Management LLC's holdings in Apogee Enterprises were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC bought a new position in shares of Apogee Enterprises during the fourth quarter valued at approximately $40,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Apogee Enterprises during the fourth quarter valued at $42,000. Meeder Asset Management Inc. purchased a new position in Apogee Enterprises in the 4th quarter worth about $57,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Apogee Enterprises in the first quarter valued at approximately $44,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Apogee Enterprises in the 4th quarter worth $228,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APOG. DA Davidson cut their price target on Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Apogee Enterprises from a "hold" rating to a "buy" rating in a research report on Friday, July 18th.

Apogee Enterprises Stock Performance

APOG traded down $0.59 during midday trading on Thursday, hitting $42.47. 35,291 shares of the company were exchanged, compared to its average volume of 255,628. The company's 50 day simple moving average is $40.41 and its 200 day simple moving average is $45.35. The firm has a market capitalization of $914.27 million, a price-to-earnings ratio of 18.15 and a beta of 0.96. Apogee Enterprises, Inc. has a 1-year low of $37.53 and a 1-year high of $87.93. The company has a current ratio of 1.77, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Friday, June 27th. The industrial products company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The firm had revenue of $346.62 million during the quarter, compared to analyst estimates of $326.08 million. During the same period in the previous year, the firm earned $1.44 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Wednesday, July 16th. Apogee Enterprises's payout ratio is currently 44.44%.

Apogee Enterprises Company Profile

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).