Gabelli Funds LLC Raises Stock Position in Apogee Enterprises, Inc. $APOG

Key Points

• Gabelli Funds increased its Apogee Enterprises stake by 427.3% in the first quarter, purchasing 43,639 additional shares. The firm now owns 53,852 shares valued at approximately $1.81 million, while institutional investors collectively hold 94.05% of the stock.
• Analyst sentiment has improved, with recent upgrades including a “strong buy” from Zacks Research and a “buy” from Wall Street Zen. Apogee has an average rating of “Buy” 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. The company also pays a quarterly dividend of $0.27 per share, equivalent to a 2.7% annual yield.

Gabelli Funds LLC grew its stake in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 427.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,852 shares of the industrial products company's stock after buying an additional 43,639 shares during the period. Gabelli Funds LLC owned 0.25% of Apogee Enterprises worth $1,806,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Parallel Advisors LLC purchased a new stake in Apogee Enterprises in the first quarter valued at $30,000. PNC Financial Services Group Inc. boosted its stake in 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 acquiring an additional 296 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Apogee Enterprises during the second quarter worth about $38,000. Meeder Asset Management Inc. purchased a new position in shares of Apogee Enterprises during the first quarter worth about $41,000. Finally, Hantz Financial Services Inc. increased its position in shares of Apogee Enterprises by 79.5% during the fourth quarter. Hantz Financial Services Inc. now owns 1,255 shares of the industrial products company's stock worth $46,000 after purchasing an additional 556 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Apogee Enterprises Stock Performance

NASDAQ:APOG opened at $39.89 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.76 and a quick ratio of 1.34. The firm has a market cap of $832.50 million, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The firm's fifty day moving average price is $39.84 and its 200 day moving average price is $37.72. Apogee Enterprises, Inc. has a 1-year low of $30.75 and a 1-year high of $50.88.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its quarterly earnings data on Friday, June 26th. The industrial products company reported $0.57 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $333.84 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. Apogee Enterprises's quarterly revenue 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, sell-side analysts expect that Apogee Enterprises, Inc. will post 2.96 EPS for the current year.

Apogee Enterprises Dividend Announcement

The company also recently declared 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. This represents a $1.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, July 14th. Apogee Enterprises's dividend payout ratio is currently 33.86%.

Apogee Enterprises Company Profile

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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