Apogee Enterprises, Inc. (APOG) Stake Lessened by American Century Companies Inc.
American Century Companies Inc. lessened its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 59.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,383 shares of the industrial products company’s stock after selling 231,459 shares during the quarter. American Century Companies Inc. owned about 0.56% of Apogee Enterprises worth $9,116,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forward Management LLC purchased a new stake in shares of Apogee Enterprises during the 2nd quarter valued at about $137,000. Ameritas Investment Partners Inc. bought a new position in shares of Apogee Enterprises in the 1st quarter worth approximately $146,000. State of Alaska Department of Revenue lifted its stake in shares of Apogee Enterprises by 1.9% in the 1st quarter. State of Alaska Department of Revenue now owns 3,180 shares of the industrial products company’s stock worth $189,000 after purchasing an additional 60 shares during the period. Janney Capital Management LLC bought a new position in shares of Apogee Enterprises in the 2nd quarter worth approximately $208,000. Finally, Teza Capital Management LLC bought a new position in shares of Apogee Enterprises in the 1st quarter worth approximately $234,000.
Apogee Enterprises, Inc. (NASDAQ:APOG) opened at 43.35 on Wednesday. The company has a market cap of $1.25 billion, a PE ratio of 14.85 and a beta of 1.61. The stock has a 50 day moving average of $49.27 and a 200 day moving average of $54.06. Apogee Enterprises, Inc. has a 52 week low of $39.88 and a 52 week high of $61.00.
Apogee Enterprises (NASDAQ:APOG) last issued its earnings results on Thursday, June 22nd. The industrial products company reported $0.62 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.09. The firm had revenue of $272.30 million during the quarter, compared to analysts’ expectations of $271.13 million. Apogee Enterprises had a net margin of 7.39% and a return on equity of 18.59%. Apogee Enterprises’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. Equities research analysts predict that Apogee Enterprises, Inc. will post $3.11 EPS for the current fiscal year.
Several brokerages have recently weighed in on APOG. ValuEngine upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Sidoti began coverage on shares of Apogee Enterprises in a research note on Thursday, May 25th. They issued a “buy” rating and a $70.00 price objective on the stock. BidaskClub cut shares of Apogee Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of Apogee Enterprises from a “hold” rating to a “strong-buy” rating and set a $65.00 price objective on the stock in a research note on Monday, June 19th. Finally, DA Davidson set a $52.00 price objective on shares of Apogee Enterprises and gave the stock a “buy” rating in a research note on Thursday, August 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $63.75.
In related news, Director Jerome L. Davis sold 18,706 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $55.04, for a total value of $1,029,578.24. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.10% of the stock is owned by corporate 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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