Pinnacle Associates Ltd. Increases Stake in Apogee Enterprises, Inc. (APOG)

Pinnacle Associates Ltd. increased its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 43.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,275 shares of the industrial products company’s stock after acquiring an additional 2,500 shares during the period. Pinnacle Associates Ltd.’s holdings in Apogee Enterprises were worth $470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in APOG. BlackRock Inc. raised its stake in shares of Apogee Enterprises by 19,368.0% in the first quarter. BlackRock Inc. now owns 4,227,467 shares of the industrial products company’s stock valued at $252,000,000 after acquiring an additional 4,205,752 shares in the last quarter. SG Capital Management LLC acquired a new stake in Apogee Enterprises in the second quarter valued at $38,239,000. FMR LLC raised its stake in Apogee Enterprises by 131.3% in the first quarter. FMR LLC now owns 622,720 shares of the industrial products company’s stock valued at $37,120,000 after buying an additional 353,510 shares in the last quarter. RidgeWorth Capital Management LLC acquired a new stake in Apogee Enterprises in the first quarter valued at $19,164,000. Finally, Systematic Financial Management LP raised its stake in Apogee Enterprises by 55.7% in the first quarter. Systematic Financial Management LP now owns 532,874 shares of the industrial products company’s stock valued at $31,765,000 after buying an additional 190,576 shares in the last quarter.

In other Apogee Enterprises news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.

A number of analysts have weighed in on APOG shares. Sidoti initiated coverage on Apogee Enterprises in a research note on Thursday, May 25th. They issued a “buy” rating and a $70.00 price target on the stock. ValuEngine raised Apogee Enterprises from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. DA Davidson set a $52.00 price objective on Apogee Enterprises and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, BidaskClub lowered Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $63.75.

Apogee Enterprises, Inc. (APOG) traded up 0.02% during midday trading on Friday, hitting $44.80. 447,185 shares of the stock were exchanged. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 15.34 and a beta of 1.61. The firm’s 50-day moving average is $47.33 and its 200 day moving average is $53.38. Apogee Enterprises, Inc. has a 52 week low of $39.88 and a 52 week high of $61.00.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.09). Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The firm had revenue of $272.30 million for the quarter, compared to analyst estimates of $271.13 million. During the same quarter in the prior year, the firm posted $0.61 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities research analysts expect that Apogee Enterprises, Inc. will post $3.11 EPS for the current fiscal year.

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Apogee Enterprises Profile

Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.

Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

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