Apogee Enterprises, Inc. (NASDAQ:APOG) Shares Sold by Arjuna Capital

Key Points

• Arjuna Capital significantly reduced its stake in Apogee Enterprises, selling 47,008 shares to lower its ownership by 75.5% in the 1st quarter, leaving it with 15,244 shares valued at $706,000.
• Apogee Enterprises reported strong quarterly earnings, exceeding analysts' expectations with an EPS of $0.56 compared to the anticipated $0.45, and revenue of $346.62 million, up 4.6% year-over-year.
• The company declared a quarterly dividend of $0.26, with a yield of 2.5%, while its dividend payout ratio stands at 44.44% as of the latest announcement.

Arjuna Capital reduced its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 75.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,244 shares of the industrial products company's stock after selling 47,008 shares during the period. Arjuna Capital owned about 0.07% of Apogee Enterprises worth $706,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Apogee Enterprises by 1.3% during the first quarter. Victory Capital Management Inc. now owns 1,170,654 shares of the industrial products company's stock worth $54,236,000 after buying an additional 14,687 shares during the period. Segall Bryant & Hamill LLC boosted its holdings in Apogee Enterprises by 9.3% in the first quarter. Segall Bryant & Hamill LLC now owns 723,988 shares of the industrial products company's stock valued at $33,542,000 after purchasing an additional 61,430 shares during the period. LSV Asset Management boosted its holdings in Apogee Enterprises by 5.6% in the first quarter. LSV Asset Management now owns 481,355 shares of the industrial products company's stock valued at $22,301,000 after purchasing an additional 25,326 shares during the period. Northern Trust Corp boosted its holdings in Apogee Enterprises by 19.9% in the fourth quarter. Northern Trust Corp now owns 277,942 shares of the industrial products company's stock valued at $19,848,000 after purchasing an additional 46,220 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Apogee Enterprises by 87.9% in the fourth quarter. JPMorgan Chase & Co. now owns 186,744 shares of the industrial products company's stock valued at $13,335,000 after purchasing an additional 87,356 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Stock Down 0.2%

NASDAQ:APOG traded down $0.09 during midday trading on Friday, reaching $41.52. The company had a trading volume of 101,821 shares, compared to its average volume of 176,147. Apogee Enterprises, Inc. has a 12-month low of $37.53 and a 12-month 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. The firm has a market capitalization of $893.93 million, a price-to-earnings ratio of 17.74 and a beta of 1.00. The stock's fifty day simple moving average is $41.00 and its 200-day simple moving average is $44.19.

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

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were paid a $0.26 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.5%. Apogee Enterprises's dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on APOG shares. Wall Street Zen lowered Apogee Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. DA Davidson decreased their target price on Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, July 1st.

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).