Apogee Enterprises, Inc. (NASDAQ:APOG) Short Interest Update

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Apogee Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, April 25th.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG traded up $0.23 during trading hours on Wednesday, reaching $38.97. The stock had a trading volume of 146,383 shares, compared to its average volume of 194,279. The firm has a 50-day moving average of $42.36 and a 200-day moving average of $54.40. The firm has a market cap of $840.70 million, a price-to-earnings ratio of 8.70 and a beta of 0.99. 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 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 quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.01). The firm had revenue of $345.69 million during the quarter, compared to analysts' expectations of $331.82 million. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. Apogee Enterprises's quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.14 EPS. Equities research analysts predict that Apogee Enterprises will post 4.97 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 13th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Apogee Enterprises's payout ratio is currently 26.80%.

Institutional Investors Weigh In On Apogee Enterprises

Institutional investors and hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in Apogee Enterprises by 35.3% in the 4th 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 during the period. Bank of America Corp DE grew its stake in shares of Apogee Enterprises by 6.7% in the 4th quarter. Bank of America Corp DE now owns 103,804 shares of the industrial products company's stock valued at $7,413,000 after purchasing an additional 6,529 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Apogee Enterprises in the fourth quarter valued at approximately $706,000. Bank of Montreal Can raised its stake in shares of Apogee Enterprises by 4.0% during the fourth quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company's stock worth $552,000 after purchasing an additional 298 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Apogee Enterprises during the fourth quarter worth $636,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Apogee Enterprises

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).