Raymond James Financial Inc. Invests $706,000 in Apogee Enterprises, Inc. (NASDAQ:APOG)

Raymond James Financial Inc. purchased a new position in Apogee Enterprises, Inc. (NASDAQ:APOG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,884 shares of the industrial products company's stock, valued at approximately $706,000.

Other hedge funds have also recently modified their holdings of the company. Inspire Investing LLC purchased a new stake in shares of Apogee Enterprises in the 4th quarter worth approximately $824,000. Franklin Resources Inc. boosted its stake in Apogee Enterprises by 35.3% in the fourth quarter. Franklin Resources Inc. now owns 44,247 shares of the industrial products company's stock valued at $3,160,000 after acquiring an additional 11,552 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Apogee Enterprises by 69.0% in the fourth quarter. Ritholtz Wealth Management now owns 22,095 shares of the industrial products company's stock worth $1,578,000 after purchasing an additional 9,019 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Apogee Enterprises in the fourth quarter worth $636,000. Finally, Norges Bank acquired a new position in shares of Apogee Enterprises during the fourth quarter worth $5,698,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on APOG. StockNews.com downgraded Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, April 25th. Singular Research upgraded shares of Apogee Enterprises to a "moderate buy" rating in a report on Tuesday, January 14th.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG traded up $1.68 during midday trading on Monday, reaching $42.44. The company had a trading volume of 13,999 shares, compared to its average volume of 191,968. The business's 50-day simple moving average is $44.98 and its 200 day simple moving average is $59.04. The stock has a market cap of $909.02 million, a P/E ratio of 9.49 and a beta of 0.99. Apogee Enterprises, Inc. has a 1 year low of $38.45 and a 1 year high of $87.93. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52.

Apogee Enterprises (NASDAQ:APOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.01). The company had revenue of $345.69 million during the quarter, compared to analysts' expectations of $331.82 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The company's quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. On average, analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. Apogee Enterprises's payout ratio is currently 26.80%.

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).