Engineers Gate Manager LP Trims Stake in Apogee Enterprises, Inc. $APOG

Key Points

• Engineers Gate Manager LP reduced its Apogee Enterprises stake by 58.9% in the second quarter, selling 50,283 shares and retaining 35,133 shares valued at approximately $1.61 million.
• Despite the sale, institutional investors own 94.05% of Apogee, with BlackRock and several other firms establishing new positions during the first and second quarters.
• Analysts give Apogee a consensus “Moderate Buy” rating with an average price target of $70.50. The company recently exceeded quarterly EPS and revenue estimates and pays a quarterly dividend of $0.27 per share, for an annualized yield of about 2.9%.

Engineers Gate Manager LP cut its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 58.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,133 shares of the industrial products company's stock after selling 50,283 shares during the period. Engineers Gate Manager LP owned about 0.17% of Apogee Enterprises worth $1,607,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of APOG. BlackRock Inc. bought a new position in shares of Apogee Enterprises in the second quarter worth about $155,501,000. Bank of New York Mellon Corp purchased a new stake in Apogee Enterprises in the 2nd quarter worth approximately $6,228,000. Peregrine Capital Management LLC bought a new stake in Apogee Enterprises during the 1st quarter worth approximately $3,193,000. Empowered Funds LLC bought a new stake in Apogee Enterprises during the 2nd quarter worth approximately $3,643,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Apogee Enterprises during the 1st quarter worth approximately $2,663,000. Institutional investors own 94.05% of the company's stock.

Analysts Set New Price Targets

APOG has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Apogee Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 31st. Wall Street Zen upgraded shares of Apogee Enterprises from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings cut shares of Apogee Enterprises from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, September 3rd. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Apogee Enterprises Trading Up 0.7%

Shares of APOG stock opened at $37.69 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.34 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $786.59 million, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 1.05 and a beta of 1.14. Apogee Enterprises, Inc. has a 12-month low of $30.75 and a 12-month high of $50.88. The stock's 50-day moving average price is $40.33 and its 200-day moving average price is $38.06.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly 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 company had revenue of $342.68 million during the quarter, compared to analyst estimates of $333.84 million. Apogee Enterprises had a return on equity of 14.72% and a net margin of 4.88%.The firm's revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.13) earnings per share. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. Equities research analysts predict that Apogee Enterprises, Inc. will post 2.96 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Tuesday, July 14th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Tuesday, July 14th. This represents a $1.08 dividend on an annualized basis and a yield of 2.9%. Apogee Enterprises's dividend payout ratio is presently 33.86%.

Apogee Enterprises Profile

Apogee Enterprises, Inc is a manufacturer of architectural products and a provider of services used in the design and construction of commercial buildings. The company's offerings include architectural glass, aluminum framing systems, windows, curtainwall systems and related building-envelope products. Its products are used in offices, educational facilities, healthcare buildings, hotels, airports and other large-scale structures.

Apogee also provides architectural and project-management services, including the design, engineering, fabrication and installation of custom building façades.

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