Victory Capital Management Inc. Reduces Stock Holdings in Apogee Enterprises, Inc. (NASDAQ:APOG)

Victory Capital Management Inc. trimmed its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,114,455 shares of the industrial products company’s stock after selling 57,836 shares during the quarter. Victory Capital Management Inc. owned 5.08% of Apogee Enterprises worth $70,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its stake in Apogee Enterprises by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the industrial products company’s stock worth $697,000 after buying an additional 200 shares during the last quarter. EntryPoint Capital LLC lifted its position in Apogee Enterprises by 31.4% during the 1st quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 222 shares during the period. SummerHaven Investment Management LLC lifted its position in Apogee Enterprises by 1.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 15,641 shares of the industrial products company’s stock worth $983,000 after acquiring an additional 231 shares during the period. Texas Permanent School Fund Corp lifted its position in Apogee Enterprises by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock worth $1,144,000 after acquiring an additional 261 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Apogee Enterprises by 0.3% during the 4th quarter. Panagora Asset Management Inc. now owns 133,870 shares of the industrial products company’s stock worth $7,150,000 after acquiring an additional 401 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on APOG shares. StockNews.com raised Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 26th. DA Davidson lifted their price target on Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th.

Insider Activity

In related news, insider Brent C. Jewell sold 5,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total value of $321,700.00. Following the completion of the transaction, the insider now owns 23,405 shares of the company’s stock, valued at approximately $1,505,877.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Apogee Enterprises Stock Performance

Shares of APOG stock opened at $62.31 on Friday. The stock has a market cap of $1.37 billion, a PE ratio of 12.79 and a beta of 0.98. The business has a 50-day simple moving average of $63.60 and a 200-day simple moving average of $61.74. The company has a quick ratio of 1.29, a current ratio of 1.64 and a debt-to-equity ratio of 0.16. Apogee Enterprises, Inc. has a 52-week low of $41.01 and a 52-week high of $70.64.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Thursday, June 27th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.28. The business had revenue of $331.50 million during the quarter, compared to analysts’ expectations of $333.22 million. Apogee Enterprises had a return on equity of 24.74% and a net margin of 7.72%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, equities analysts expect that Apogee Enterprises, Inc. will post 4.86 EPS for the current year.

Apogee Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Wednesday, July 10th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.60%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.53%.

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).