Pacer Advisors Inc. Decreases Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Pacer Advisors Inc. lowered its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 14.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 781,392 shares of the industrial products company’s stock after selling 135,608 shares during the quarter. Pacer Advisors Inc.’s holdings in Apogee Enterprises were worth $54,709,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of Apogee Enterprises during the 2nd quarter valued at about $3,547,000. Renaissance Technologies LLC lifted its holdings in shares of Apogee Enterprises by 1,004.1% during the second quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock valued at $4,567,000 after purchasing an additional 66,100 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Apogee Enterprises by 2,602.0% in the third quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 1,301 shares during the last quarter. Quest Partners LLC lifted its stake in shares of Apogee Enterprises by 115,311.1% in the second quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company’s stock worth $653,000 after buying an additional 10,378 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Apogee Enterprises by 23.2% during 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 during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on APOG. StockNews.com downgraded Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson raised their price target on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th.

Apogee Enterprises Stock Performance

Shares of APOG opened at $82.41 on Friday. The business has a 50-day simple moving average of $76.16 and a two-hundred day simple moving average of $68.01. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 17.35 and a beta of 0.97. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12. Apogee Enterprises, Inc. has a 52 week low of $44.46 and a 52 week high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.21. The company had revenue of $342.40 million for the quarter, compared to analysts’ expectations 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 business earned $1.36 EPS. On average, analysts expect that Apogee Enterprises, Inc. will post 5.06 EPS for the current year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 dividend on an annualized basis and a yield of 1.21%. Apogee Enterprises’s payout ratio is presently 21.05%.

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).