Connor Clark & Lunn Investment Management Ltd. Cuts Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Connor Clark & Lunn Investment Management Ltd. cut its holdings in Apogee Enterprises, Inc. (NASDAQ:APOG) by 42.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,463 shares of the industrial products company’s stock after selling 27,354 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Apogee Enterprises worth $2,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Moran Wealth Management LLC lifted its holdings in shares of Apogee Enterprises by 0.3% in the third quarter. Moran Wealth Management LLC now owns 98,367 shares of the industrial products company’s stock worth $6,887,000 after buying an additional 304 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Apogee Enterprises by 44.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 396 shares during the last quarter. KBC Group NV boosted its holdings in shares of Apogee Enterprises by 46.7% during the 4th quarter. KBC Group NV now owns 1,282 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 408 shares during the last quarter. Endeavor Private Wealth Inc. bought a new position in shares of Apogee Enterprises during the 4th quarter valued at about $32,000. Finally, Diversified Trust Co grew its position in shares of Apogee Enterprises by 10.5% during the fourth quarter. Diversified Trust Co now owns 7,673 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 730 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Apogee Enterprises Stock Performance

NASDAQ APOG opened at $47.01 on Tuesday. The business’s 50 day moving average price is $50.67 and its 200-day moving average price is $66.58. Apogee Enterprises, Inc. has a fifty-two week low of $45.33 and a fifty-two week high of $87.93. The company has a market cap of $1.03 billion, a P/E ratio of 10.49 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts predict that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were paid a dividend of $0.26 per share. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. Apogee Enterprises’s dividend payout ratio is currently 23.21%.

Analyst Ratings Changes

APOG has been the subject of a number of research reports. DA Davidson dropped their price target on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th. StockNews.com cut shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th. Finally, Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a research note on Friday, January 10th.

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).