Arrowstreet Capital Limited Partnership Takes $2.66 Million Position in Apogee Enterprises, Inc. $APOG

Key Points

• Arrowstreet Capital acquired 79,388 Apogee Enterprises shares worth approximately $2.66 million, representing a 0.37% stake. Institutional investors collectively own 94.05% of the company.
• Analysts have generally turned more positive, with recent upgrades from Zacks Research, Weiss Ratings and Wall Street Zen. Apogee carries a consensus “Buy” rating and an average price target of $70.50.
• Apogee exceeded quarterly expectations with EPS of $0.57 versus the $0.43 consensus and revenue of $342.68 million, while maintaining a quarterly dividend of $0.27 per share, equivalent to a 2.5% yield.

Arrowstreet Capital Limited Partnership bought a new position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 79,388 shares of the industrial products company's stock, valued at approximately $2,663,000. Arrowstreet Capital Limited Partnership owned 0.37% of Apogee Enterprises at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. increased its stake in shares of Apogee Enterprises by 99.8% during the 1st 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. State of Wyoming increased its position in Apogee Enterprises by 48.2% in the first quarter. State of Wyoming now owns 5,535 shares of the industrial products company's stock worth $186,000 after buying an additional 1,799 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Apogee Enterprises by 38.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,065 shares of the industrial products company's stock valued at $36,000 after buying an additional 296 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Apogee Enterprises in the first quarter valued at $41,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Apogee Enterprises by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,063,485 shares of the industrial products company's stock valued at $35,668,000 after buying an additional 78,200 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research upgraded Apogee Enterprises from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Apogee Enterprises from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 2nd. Finally, Wall Street Zen raised shares of Apogee Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $70.50.

Apogee Enterprises Trading Up 1.3%

Shares of APOG opened at $42.53 on Wednesday. Apogee Enterprises, Inc. has a twelve month low of $30.75 and a twelve month high of $50.88. The stock has a market cap of $887.60 million, a PE ratio of 13.33, a P/E/G ratio of 1.18 and a beta of 1.15. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 0.46. The business's 50-day moving average price is $40.24 and its 200-day moving average price is $37.89.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.43 by $0.14. Apogee Enterprises had a net margin of 4.88% and a return on equity of 14.72%. The company had revenue of $342.68 million during the quarter, compared to analysts' expectations of $333.84 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share. Apogee Enterprises's revenue for the quarter was down 1.1% on a year-over-year basis. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. On average, equities analysts forecast that Apogee Enterprises, Inc. will post 2.96 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, July 14th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, July 14th. Apogee Enterprises's dividend payout ratio (DPR) is 33.86%.

About Apogee Enterprises

Apogee Enterprises, Inc is a diversified manufacturer and distributor of value-added architectural products and services. The company specializes in the design, fabrication and installation of high-performance glass, framing systems, curtain walls, skylights and other building envelope solutions. Its operations span three primary platforms—Architectural Framing Systems, Architectural Glass and Architectural Services—enabling Apogee to deliver complete, integrated façade systems for new construction, renovation and retrofit projects.

Headquartered in Minneapolis, Minnesota, Apogee traces its roots to the mid-20th century and today serves commercial, institutional and residential markets across North America and Europe.

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