Hsbc Holdings PLC Cuts Position in Apogee Enterprises, Inc. $APOG

Key Points

• Hsbc Holdings PLC has reduced its stake in Apogee Enterprises by 72.6%, holding only 4,791 shares after selling over 12,000 shares in Q1.
• A recent report indicates that Apogee Enterprises has maintained a Moderate Buy consensus rating with an average price target of $45.00.
• Apogee Enterprises announced a quarterly dividend of $0.26, reflecting a 2.4% dividend yield and a payout ratio of 44.44%.

Hsbc Holdings PLC trimmed its position in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 72.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,791 shares of the industrial products company's stock after selling 12,663 shares during the quarter. Hsbc Holdings PLC's holdings in Apogee Enterprises were worth $221,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Apogee Enterprises during the 4th quarter valued at about $42,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Apogee Enterprises during the 1st quarter valued at about $44,000. Brevan Howard Capital Management LP raised its holdings in shares of Apogee Enterprises by 16.2% during the 4th quarter. Brevan Howard Capital Management LP now owns 3,683 shares of the industrial products company's stock valued at $263,000 after buying an additional 514 shares during the period. State of Wyoming raised its holdings in shares of Apogee Enterprises by 33.5% during the 4th quarter. State of Wyoming now owns 4,248 shares of the industrial products company's stock valued at $303,000 after buying an additional 1,065 shares during the period. Finally, Ethic Inc. raised its holdings in shares of Apogee Enterprises by 23.0% during the 4th quarter. Ethic Inc. now owns 4,253 shares of the industrial products company's stock valued at $304,000 after buying an additional 796 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on APOG. DA Davidson dropped their target price on Apogee Enterprises from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, July 1st. Wall Street Zen upgraded Apogee Enterprises from a "hold" rating to a "buy" rating in a report on Friday. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Apogee Enterprises currently has a consensus rating of "Moderate Buy" and an average price target of $45.00.

Apogee Enterprises Price Performance

Shares of NASDAQ APOG opened at $43.62 on Friday. Apogee Enterprises, Inc. has a fifty-two week low of $37.53 and a fifty-two week high of $87.93. The business has a 50 day moving average price of $42.76 and a two-hundred day moving average price of $43.09. The company has a quick ratio of 1.36, a current ratio of 1.77 and a debt-to-equity ratio of 0.65. The firm has a market cap of $939.14 million, a PE ratio of 18.64 and a beta of 1.05.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last issued its quarterly earnings data on Friday, June 27th. The industrial products company reported $0.56 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.11. The firm had revenue of $346.62 million during the quarter, compared to analyst estimates of $326.08 million. Apogee Enterprises had a return on equity of 17.79% and a net margin of 3.73%.Apogee Enterprises's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. Apogee Enterprises has set its FY 2026 guidance at 3.800-4.200 EPS. Sell-side analysts expect that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th were given a $0.26 dividend. The ex-dividend date was Wednesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.4%. Apogee Enterprises's dividend payout ratio (DPR) is presently 44.44%.

Apogee Enterprises Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

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