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Apogee Enterprises Sees Unusually Large Options Volume (NASDAQ:APOG)

Wednesday, September 16, 2020 | MarketBeat

Apogee Enterprises Inc (NASDAQ:APOG) saw unusually large options trading activity on Tuesday. Stock investors acquired 715 call options on the company. This is an increase of 1,053% compared to the average volume of 62 call options.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in Apogee Enterprises by 27.8% in the first quarter. Legal & General Group Plc now owns 229,268 shares of the industrial products company's stock worth $4,774,000 after purchasing an additional 49,818 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Apogee Enterprises by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 368,032 shares of the industrial products company's stock valued at $7,663,000 after buying an additional 4,166 shares in the last quarter. Prudential PLC grew its position in Apogee Enterprises by 2.7% in the second quarter. Prudential PLC now owns 321,050 shares of the industrial products company's stock worth $7,397,000 after acquiring an additional 8,550 shares in the last quarter. Invesco Ltd. increased its stake in Apogee Enterprises by 14.1% during the first quarter. Invesco Ltd. now owns 118,029 shares of the industrial products company's stock worth $2,457,000 after acquiring an additional 14,618 shares during the last quarter. Finally, LSV Asset Management raised its position in Apogee Enterprises by 37.3% during the second quarter. LSV Asset Management now owns 769,638 shares of the industrial products company's stock valued at $17,732,000 after purchasing an additional 209,146 shares during the period. Hedge funds and other institutional investors own 88.89% of the company's stock.

NASDAQ:APOG opened at $19.79 on Wednesday. The business's fifty day moving average is $21.75 and its 200 day moving average is $21.51. The firm has a market cap of $522.13 million, a price-to-earnings ratio of 10.70 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.67 and a current ratio of 0.87. Apogee Enterprises has a 52-week low of $13.77 and a 52-week high of $46.70.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Friday, June 26th. The industrial products company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.19 by ($0.04). The company had revenue of $289.10 million for the quarter, compared to the consensus estimate of $304.54 million. Apogee Enterprises had a net margin of 3.74% and a return on equity of 10.21%. The company's quarterly revenue was down 18.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities analysts predict that Apogee Enterprises will post 1.7 EPS for the current fiscal year.

Several analysts have issued reports on APOG shares. Zacks Investment Research upgraded Apogee Enterprises from a "sell" rating to a "strong-buy" rating and set a $19.00 target price on the stock in a research note on Wednesday, June 3rd. BidaskClub lowered shares of Apogee Enterprises from a "sell" rating to a "strong sell" rating in a research report on Friday, August 28th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of "Hold" and a consensus price target of $20.00.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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