Short Interest in Apogee Enterprises, Inc. (NASDAQ:APOG) Drops By 15.7%

Apogee Enterprises, Inc. (NASDAQ:APOG - Get Free Report) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 390,000 shares, a drop of 15.7% from the April 30th total of 462,800 shares. Based on an average daily volume of 218,300 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.9% of the company's stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Strs Ohio acquired a new position in shares of Apogee Enterprises in the 1st quarter worth approximately $334,000. Intech Investment Management LLC grew its position in shares of Apogee Enterprises by 24.1% in the 1st quarter. Intech Investment Management LLC now owns 108,605 shares of the industrial products company's stock worth $5,032,000 after acquiring an additional 21,068 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Apogee Enterprises by 120.3% in the 1st quarter. Jane Street Group LLC now owns 79,281 shares of the industrial products company's stock worth $3,673,000 after purchasing an additional 43,297 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Apogee Enterprises in the 1st quarter worth approximately $596,000. Finally, PharVision Advisers LLC bought a new stake in shares of Apogee Enterprises in the 1st quarter worth approximately $268,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Apogee Enterprises from a "buy" rating to a "hold" rating in a research note on Friday, April 25th.

Apogee Enterprises Stock Performance

Shares of APOG traded up $0.43 during mid-day trading on Friday, hitting $39.31. The stock had a trading volume of 127,131 shares, compared to its average volume of 193,992. The company has a market cap of $848.03 million, a PE ratio of 8.77 and a beta of 0.97. The company's fifty day simple moving average is $41.90 and its two-hundred day simple moving average is $53.71. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. Apogee Enterprises has a fifty-two week low of $37.70 and a fifty-two week high of $87.93.

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

Apogee Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.04 annualized dividend and a dividend yield of 2.65%. Apogee Enterprises's payout ratio is 26.80%.

Apogee Enterprises Company 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).