Allianz Asset Management GmbH Boosts Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Key Points

• Allianz Asset Management GmbH increased its stake in Apogee Enterprises by 5.2% during the first quarter, now owning approximately 0.80% of the company worth $7.93 million.
• Several brokerages recently downgraded Apogee Enterprises' stock from "buy" to "hold," with DA Davidson lowering the price target from $47 to $45.
• Apogee Enterprises declared a quarterly dividend of $0.26 per share, with a dividend yield of 2.43%, to be paid on July 31.

Allianz Asset Management GmbH lifted its holdings in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 5.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,177 shares of the industrial products company's stock after purchasing an additional 8,535 shares during the period. Allianz Asset Management GmbH owned approximately 0.80% of Apogee Enterprises worth $7,931,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of APOG. JPMorgan Chase & Co. increased its position in Apogee Enterprises by 87.9% during the 4th quarter. JPMorgan Chase & Co. now owns 186,744 shares of the industrial products company's stock worth $13,335,000 after purchasing an additional 87,356 shares in the last quarter. Renaissance Technologies LLC increased its stake in Apogee Enterprises by 196.2% in the 4th quarter. Renaissance Technologies LLC now owns 122,883 shares of the industrial products company's stock worth $8,775,000 after purchasing an additional 81,400 shares in the last quarter. Norges Bank acquired a new stake in shares of Apogee Enterprises during the 4th quarter valued at about $5,698,000. Bridgeway Capital Management LLC bought a new position in shares of Apogee Enterprises in the 4th quarter valued at approximately $5,535,000. Finally, Segall Bryant & Hamill LLC lifted 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 worth $33,542,000 after buying an additional 61,430 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports 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 downgraded Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Apogee Enterprises Stock Down 2.4%

APOG traded down $1.02 during trading hours on Thursday, hitting $41.46. 28,127 shares of the company's stock were exchanged, compared to its average volume of 252,087. The company has a current ratio of 1.77, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $40.65 and a 200 day moving average of $44.84. The firm has a market cap of $892.66 million, a P/E ratio of 17.75 and a beta of 0.96. Apogee Enterprises, Inc. has a 12-month low of $37.53 and a 12-month high of $87.93.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its earnings results on Friday, June 27th. The industrial products company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. The business had revenue of $346.62 million for the quarter, compared to analysts' expectations of $326.08 million. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The business's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.44 earnings per share. Analysts predict that Apogee Enterprises, Inc. will post 4.97 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.51%. Apogee Enterprises's dividend payout ratio (DPR) is presently 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).