BlackRock Inc. Acquires Shares of 3,399,671 Apogee Enterprises, Inc. $APOG

BlackRock Inc. purchased a new stake in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,399,671 shares of the industrial products company's stock, valued at approximately $155,501,000. BlackRock Inc. owned approximately 16.29% of Apogee Enterprises as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Apogee Enterprises by 1,074.3% in the first quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company's stock valued at $14,836,000 after acquiring an additional 292,952 shares during the period. Federated Hermes Inc. grew its holdings in shares of Apogee Enterprises by 524.3% during the 4th quarter. Federated Hermes Inc. now owns 228,361 shares of the industrial products company's stock worth $8,315,000 after purchasing an additional 191,783 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Apogee Enterprises by 6.8% during the fourth quarter. Vanguard Group Inc. now owns 2,627,223 shares of the industrial products company's stock valued at $95,657,000 after purchasing an additional 166,402 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Apogee Enterprises in the second quarter valued at $6,228,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Apogee Enterprises by 103.2% during the 4th quarter. Russell Investments Group Ltd. now owns 216,607 shares of the industrial products company's stock worth $7,887,000 after acquiring an additional 110,023 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

APOG has been the topic of a number of research analyst reports. Zacks Research upgraded Apogee Enterprises from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. Wall Street Zen raised Apogee Enterprises from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Apogee Enterprises from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $70.50.

Apogee Enterprises Trading Down 0.7%

Apogee Enterprises stock opened at $40.33 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.34 and a current ratio of 1.76. The stock has a market capitalization of $841.69 million, a P/E ratio of 12.64, a PEG ratio of 1.14 and a beta of 1.15. Apogee Enterprises, Inc. has a 52 week low of $30.75 and a 52 week high of $50.88. The stock has a 50-day simple moving average of $41.36 and a 200 day simple moving average of $38.33.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its quarterly earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.14. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The business had revenue of $342.68 million for the quarter, compared to analysts' expectations of $333.84 million. During the same quarter in the prior year, the business earned ($0.13) EPS. The firm'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. Analysts expect that Apogee Enterprises, Inc. will post 2.96 earnings per share for the current year.

Apogee Enterprises Announces Dividend

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