Apogee Enterprises, Inc. (NASDAQ:APOG) Stock Holdings Lessened by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Apogee Enterprises by 72.5% in Q1, holding 194,697 shares worth approximately $9 million after selling more than 514,000 shares.
• Despite a drop in earnings year-over-year, Apogee Enterprises reported $0.56 EPS for the recent quarter, exceeding analyst expectations and achieving a revenue of $346.62 million.
• The company declared a quarterly dividend of $0.26 per share, with a yield of 2.42%, to be paid on July 31st to stockholders of record as of July 16th.

Pacer Advisors Inc. reduced its position in shares of Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) by 72.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,697 shares of the industrial products company's stock after selling 514,264 shares during the period. Pacer Advisors Inc. owned about 0.91% of Apogee Enterprises worth $9,020,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Royce & Associates LP raised its holdings in Apogee Enterprises by 16.3% in the first quarter. Royce & Associates LP now owns 31,771 shares of the industrial products company's stock valued at $1,472,000 after acquiring an additional 4,455 shares in the last quarter. KLP Kapitalforvaltning AS raised its holdings in shares of Apogee Enterprises by 51.7% during the first quarter. KLP Kapitalforvaltning AS now owns 13,500 shares of the industrial products company's stock worth $625,000 after purchasing an additional 4,600 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of Apogee Enterprises by 5.4% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 50,078 shares of the industrial products company's stock worth $2,320,000 after purchasing an additional 2,579 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Apogee Enterprises by 133.8% during the first quarter. Y Intercept Hong Kong Ltd now owns 16,750 shares of the industrial products company's stock worth $776,000 after purchasing an additional 9,585 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Apogee Enterprises by 5.2% during the first quarter. Allianz Asset Management GmbH now owns 171,177 shares of the industrial products company's stock worth $7,931,000 after purchasing an additional 8,535 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on APOG shares. DA Davidson dropped their target price on shares of 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 cut shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a report on Saturday, July 26th.

Apogee Enterprises Stock Performance

Shares of APOG stock traded down $0.55 during trading hours on Thursday, reaching $41.93. The stock had a trading volume of 40,212 shares, compared to its average volume of 252,207. The firm has a 50-day simple moving average of $40.65 and a 200-day simple moving average of $44.84. The firm has a market capitalization of $902.73 million, a PE ratio of 17.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.77 and a quick ratio of 1.36. Apogee Enterprises, Inc. has a twelve month low of $37.53 and a twelve month high of $87.93.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last announced its earnings results on Friday, June 27th. The industrial products company reported $0.56 earnings per share (EPS) 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 net margin of 3.73% and a return on equity of 17.79%. Apogee Enterprises's revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. As a group, equities analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.48%. Apogee Enterprises's dividend payout ratio 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).