Granahan Investment Management Inc. MA reduced its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 85.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,384 shares of the industrial products company’s stock after selling 197,690 shares during the period. Granahan Investment Management Inc. MA owned 0.12% of Apogee Enterprises worth $2,050,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in 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 buying an additional 4,205,752 shares during the last quarter. Vanguard Group Inc. boosted its stake in Apogee Enterprises by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,562,618 shares of the industrial products company’s stock valued at $152,757,000 after buying an additional 135,949 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Apogee Enterprises by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,297,609 shares of the industrial products company’s stock worth $77,350,000 after buying an additional 5,046 shares in the last quarter. State Street Corp boosted its position in shares of Apogee Enterprises by 3.5% in the first quarter. State Street Corp now owns 1,099,051 shares of the industrial products company’s stock worth $65,517,000 after buying an additional 37,383 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its position in shares of Apogee Enterprises by 1.3% in the first quarter. Emerald Advisers Inc. PA now owns 777,716 shares of the industrial products company’s stock worth $46,360,000 after buying an additional 10,262 shares in the last quarter.
Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) traded up 1.26% during mid-day trading on Wednesday, hitting $54.49. 9,204 shares of the stock were exchanged. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 18.66 and a beta of 1.58. The stock’s 50-day moving average is $54.64 and its 200-day moving average is $55.61. 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 EPS for the quarter, missing the 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 analysts’ expectations of $271.13 million. During the same period in the prior year, the firm posted $0.61 EPS. Apogee Enterprises’s revenue was up 9.9% on a year-over-year basis. Analysts forecast that Apogee Enterprises, Inc. will post $3.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.04%. Apogee Enterprises’s dividend payout ratio is presently 19.24%.
APOG has been the subject of a number of research analyst reports. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Sidoti began coverage on shares of Apogee Enterprises in a report on Thursday, May 25th. They set a “buy” rating and a $70.00 target price for the company. Finally, Zacks Investment Research raised shares of Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Friday, April 21st. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $64.75.
In related news, CEO Joseph F. Puishys sold 40,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $56.13, for a total transaction of $2,245,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerome L. Davis sold 18,706 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $55.04, for a total transaction of $1,029,578.24. The disclosure for this sale can be found here. In the last three months, insiders sold 198,706 shares of company stock valued at $11,114,178. Corporate insiders own 3.10% of the company’s stock.
Apogee Enterprises Company 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.
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