Apogee Enterprises, Inc. (NASDAQ:APOG) is Falcon Point Capital LLC’s 8th Largest Position
Falcon Point Capital LLC cut its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 20.5% during the second quarter, Holdings Channel reports. The firm owned 358,647 shares of the industrial products company’s stock after selling 92,408 shares during the period. Apogee Enterprises accounts for approximately 2.8% of Falcon Point Capital LLC’s holdings, making the stock its 8th largest position. Falcon Point Capital LLC’s holdings in Apogee Enterprises were worth $20,385,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of APOG. BlackRock Inc. raised its stake in Apogee Enterprises by 19,368.0% in the first quarter. BlackRock Inc. now owns 4,227,467 shares of the industrial products company’s stock valued at $252,000,000 after buying an additional 4,205,752 shares during the period. Vanguard Group Inc. raised its stake in Apogee Enterprises by 5.6% in the first quarter. Vanguard Group Inc. now owns 2,562,618 shares of the industrial products company’s stock valued at $152,757,000 after buying an additional 135,949 shares during the period. Dimensional Fund Advisors LP raised its stake in Apogee Enterprises by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,297,609 shares of the industrial products company’s stock valued at $77,350,000 after buying an additional 5,046 shares during the period. State Street Corp raised its stake in Apogee Enterprises by 3.5% in the first quarter. State Street Corp now owns 1,099,051 shares of the industrial products company’s stock valued at $65,517,000 after buying an additional 37,383 shares during the period. Finally, Emerald Advisers Inc. PA raised its stake in Apogee Enterprises by 1.3% in the first quarter. Emerald Advisers Inc. PA now owns 777,716 shares of the industrial products company’s stock valued at $46,360,000 after buying an additional 10,262 shares during the period.
Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) opened at 51.42 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.61 and a beta of 1.56. The stock has a 50 day moving average price of $53.65 and a 200 day moving average price of $55.57. Apogee Enterprises, Inc. has a 1-year low of $39.88 and a 1-year high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Thursday, June 22nd. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by $0.09. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. The firm had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $271.13 million. During the same period in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Apogee Enterprises, Inc. will post $3.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, July 10th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $0.56 dividend on an annualized basis and a yield of 1.09%. Apogee Enterprises’s payout ratio is 19.24%.
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Several equities research analysts have recently commented on APOG shares. Zacks Investment Research upgraded Apogee Enterprises from a “sell” rating to a “hold” rating in a research note on Friday, April 21st. ValuEngine lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Sidoti started coverage on Apogee Enterprises in a research note on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, BidaskClub lowered Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.75.
In other Apogee Enterprises news, Director Jerome L. Davis sold 18,706 shares of Apogee Enterprises stock in a transaction on Friday, July 7th. The shares were sold at an average price of $55.04, for a total value of $1,029,578.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by insiders.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc is engaged in the design and development of glass solutions for enclosing commercial buildings and framing art. The Company operates through four segments: Architectural Glass, Architectural Services, Architectural Framing Systems and Large-Scale Optical Technologies (LSO). The Architectural Glass segment fabricates coated glass used in customized window and wall systems.
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