Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week High – Time to Buy?

Apogee Enterprises, Inc. (NASDAQ:APOG) shares hit a new 52-week high on Monday . The stock traded as high as $87.50 and last traded at $86.58, with a volume of 11581 shares. The stock had previously closed at $86.03.

Analyst Ratings Changes

APOG has been the subject of several recent research reports. DA Davidson increased their target price on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

Apogee Enterprises Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 17.95 and a beta of 0.97. The firm’s 50 day moving average price is $73.44 and its two-hundred day moving average price is $67.12.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. The firm had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.36 earnings per share. As a group, sell-side analysts forecast that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current fiscal year.

Apogee Enterprises Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.17%. Apogee Enterprises’s payout ratio is currently 21.05%.

Institutional Investors Weigh In On Apogee Enterprises

A number of hedge funds have recently added to or reduced their stakes in APOG. Pacer Advisors Inc. lifted its position in Apogee Enterprises by 15.5% in the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares during the period. American Century Companies Inc. increased its holdings in Apogee Enterprises by 23.2% in the second quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after buying an additional 99,495 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Apogee Enterprises by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock valued at $11,369,000 after buying an additional 67,295 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Apogee Enterprises by 1,004.1% in the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after buying an additional 66,100 shares in the last quarter. Finally, Foundry Partners LLC purchased a new position in Apogee Enterprises in the third quarter valued at about $4,182,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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).