Summit Global Investments Takes $633,000 Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Summit Global Investments purchased a new stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 8,861 shares of the industrial products company’s stock, valued at approximately $633,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC acquired a new position in shares of Apogee Enterprises during the 3rd quarter valued at $2,134,000. Geode Capital Management LLC lifted its stake in shares of Apogee Enterprises by 1.4% during the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after purchasing an additional 7,382 shares in the last quarter. Inspire Investing LLC acquired a new position in shares of Apogee Enterprises during the fourth quarter worth about $824,000. Intech Investment Management LLC lifted its stake in shares of Apogee Enterprises by 255.5% during the third quarter. Intech Investment Management LLC now owns 32,415 shares of the industrial products company’s stock worth $2,270,000 after purchasing an additional 23,296 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in shares of Apogee Enterprises by 69.0% during 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 in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on APOG shares. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th. DA Davidson reduced their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. Finally, Singular Research upgraded shares of Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th.

Apogee Enterprises Trading Down 0.8 %

NASDAQ:APOG opened at $46.73 on Monday. The business’s 50-day simple moving average is $50.17 and its 200 day simple moving average is $66.07. Apogee Enterprises, Inc. has a one year low of $45.33 and a one year high of $87.93. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 10.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. Apogee Enterprises’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. As a group, sell-side analysts predict that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Tuesday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is 23.21%.

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).