Legal & General Group Plc Invests $2.21 Million in Apogee Enterprises, Inc. $APOG

Key Points

• Legal & General Group acquired 48,374 Apogee Enterprises shares worth approximately $2.21 million, representing about 0.23% of the company. Institutional investors collectively own 94.05% of APOG stock.
• Apogee reported quarterly EPS of $0.57, beating estimates by $0.14, while revenue of $342.68 million also exceeded expectations; however, revenue declined 1.1% year over year.
• Analysts hold a consensus “Moderate Buy” rating with a $70.50 price target. Apogee also pays a quarterly dividend of $0.27 per share, equal to a 2.7% annualized yield.

Legal & General Group Plc acquired a new position 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 Securities and Exchange Commission. The firm acquired 48,374 shares of the industrial products company's stock, valued at approximately $2,213,000. Legal & General Group Plc owned about 0.23% of Apogee Enterprises as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Apogee Enterprises during the second quarter valued at about $155,501,000. Millennium Management LLC increased its stake 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 worth $14,836,000 after purchasing an additional 292,952 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Apogee Enterprises by 524.3% in the fourth 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. raised its position in shares of Apogee Enterprises by 6.8% in 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. Finally, Bank of New York Mellon Corp bought a new stake in shares of Apogee Enterprises in the second quarter valued at approximately $6,228,000. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APOG has been the subject of several analyst reports. Weiss Ratings downgraded shares of Apogee Enterprises from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday. Zacks Research cut shares of Apogee Enterprises from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Finally, Wall Street Zen raised Apogee Enterprises from a "hold" rating to a "buy" rating in a report on Saturday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Apogee Enterprises currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

Apogee Enterprises Trading Up 4.7%

Shares of APOG stock opened at $39.97 on Friday. The company has a market capitalization of $834.09 million, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.13 and a beta of 1.14. Apogee Enterprises, Inc. has a 52-week low of $30.75 and a 52-week high of $50.88. The business's fifty day moving average is $40.92 and its 200 day moving average is $38.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.34 and a current ratio of 1.76.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its earnings results on Friday, June 26th. The industrial products company reported $0.57 earnings per share for the quarter, topping 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 analyst estimates of $333.84 million. During the same period in the prior year, the company earned ($0.13) EPS. The company's quarterly revenue was down 1.1% compared to the same quarter last year. Apogee Enterprises has set its FY 2027 guidance at 2.700-3.250 EPS. On average, equities research analysts anticipate that Apogee Enterprises, Inc. will post 2.96 EPS for the current fiscal year.

Apogee Enterprises Dividend Announcement

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

Apogee Enterprises 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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