Bank of New York Mellon Corp Purchases Shares of 136,159 Apogee Enterprises, Inc. $APOG

Key Points

• Bank of New York Mellon acquired 136,159 Apogee Enterprises shares worth approximately $6.23 million, giving it a 0.65% stake. Institutional investors collectively own 94.05% of APOG.
• Apogee reported quarterly EPS of $0.57, surpassing the $0.43 analyst consensus, while revenue of $342.68 million exceeded expectations but declined 1.1% year over year.
• The stock recently traded at $39.97 and pays a quarterly dividend of $0.27, equivalent to a 2.7% annual yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $70.50.

Bank of New York Mellon Corp acquired a new position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 136,159 shares of the industrial products company's stock, valued at approximately $6,228,000. Bank of New York Mellon Corp owned 0.65% of Apogee Enterprises as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its position in Apogee Enterprises by 38.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,065 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 296 shares in the last quarter. Man Group plc lifted its position in shares of Apogee Enterprises by 7.1% during the second quarter. Man Group plc now owns 6,267 shares of the industrial products company's stock worth $254,000 after purchasing an additional 418 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Apogee Enterprises by 11.5% during the second quarter. Lazard Asset Management LLC now owns 5,212 shares of the industrial products company's stock worth $210,000 after purchasing an additional 537 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Apogee Enterprises by 79.5% in the fourth quarter. Hantz Financial Services Inc. now owns 1,255 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 556 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Apogee Enterprises by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,992 shares of the industrial products company's stock valued at $602,000 after purchasing an additional 556 shares during the period. Institutional investors and hedge funds own 94.05% of the company's stock.

Apogee Enterprises Stock Up 4.7%

Shares of NASDAQ APOG opened at $39.97 on Friday. The stock has a market cap of $834.17 million, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.14. The company has a quick ratio of 1.34, a current ratio of 1.76 and a debt-to-equity ratio of 0.46. Apogee Enterprises, Inc. has a 52-week low of $30.75 and a 52-week high of $50.88. The business has a 50-day moving average price of $40.92 and a 200 day moving average price of $38.22.

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

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Tuesday, July 14th were issued a $0.27 dividend. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.7%. Apogee Enterprises's payout ratio is presently 33.86%.

Analyst Ratings Changes

Several brokerages have recently issued reports on APOG. Zacks Research cut Apogee Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 31st. Weiss Ratings cut Apogee Enterprises from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, Wall Street Zen upgraded Apogee Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $70.50.

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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