Apogee Enterprises (NASDAQ:APOG) Stock Price Down 6.9% – What’s Next?

Apogee Enterprises, Inc. (NASDAQ:APOG) shares were down 6.9% during trading on Monday . The company traded as low as $77.33 and last traded at $78.10. Approximately 70,688 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 146,426 shares. The stock had previously closed at $83.93.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on APOG shares. StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Monday. DA Davidson lifted their price objective on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Apogee Enterprises Stock Performance

The stock’s 50 day moving average is $66.18 and its two-hundred day moving average is $63.61. The firm has a market capitalization of $1.68 billion, a P/E ratio of 15.76 and a beta of 0.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.29.

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 firm had revenue of $342.40 million during the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a net margin of 7.72% and a return on equity of 24.74%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 EPS. As a group, equities analysts anticipate that Apogee Enterprises, Inc. will post 4.86 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Tuesday, October 22nd. Apogee Enterprises’s payout ratio is 20.53%.

Insiders Place Their Bets

In related news, insider Brent C. Jewell sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $64.34, for a total transaction of $321,700.00. Following the completion of the transaction, the insider now owns 23,405 shares in the company, valued at approximately $1,505,877.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Apogee Enterprises by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock valued at $165,429,000 after buying an additional 53,484 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Apogee Enterprises by 15.5% in the 2nd quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock worth $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% during the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock worth $33,225,000 after purchasing an additional 99,495 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Apogee Enterprises by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock valued at $19,053,000 after purchasing an additional 3,881 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Apogee Enterprises by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company’s stock valued at $8,582,000 after purchasing an additional 5,964 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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).