Apogee Enterprises (NASDAQ:APOG) Upgraded to Strong-Buy by StockNews.com

StockNews.com upgraded shares of Apogee Enterprises (NASDAQ:APOG) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.

Separately, DA Davidson lifted their target price on Apogee Enterprises from $65.00 to $75.00 and gave the company a neutral rating in a research note on Tuesday, October 8th.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG opened at $78.81 on Tuesday. Apogee Enterprises has a 12-month low of $41.01 and a 12-month high of $86.22. The company has a market cap of $1.73 billion, a PE ratio of 16.18 and a beta of 0.98. The stock has a 50 day simple moving average of $67.55 and a 200-day simple moving average of $64.29. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.23 by $0.21. The business had revenue of $342.40 million during the quarter, compared to analyst estimates of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.36 earnings per share. On average, equities research analysts forecast that Apogee Enterprises will post 5.06 EPS for the current year.

Apogee Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.27%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 20.53%.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently bought and sold shares of APOG. Vanguard Group Inc. lifted its position in shares of Apogee Enterprises by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock worth $165,429,000 after buying an additional 53,484 shares during the period. Los Angeles Capital Management LLC boosted its stake in Apogee Enterprises by 7.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 28,133 shares of the industrial products company’s stock worth $1,665,000 after acquiring an additional 2,055 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Apogee Enterprises by 599.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,119 shares of the industrial products company’s stock valued at $66,000 after buying an additional 959 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Apogee Enterprises by 2.1% in the first quarter. Principal Financial Group Inc. now owns 122,891 shares of the industrial products company’s stock worth $7,275,000 after acquiring an additional 2,522 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in Apogee Enterprises by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock valued at $1,144,000 after buying an additional 261 shares in the last quarter. 94.05% of the stock is currently 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).