Invesco Ltd. Decreases Position in Apogee Enterprises Inc (NASDAQ:APOG)

Invesco Ltd. decreased its stake in Apogee Enterprises Inc (NASDAQ:APOG) by 36.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,557 shares of the industrial products company’s stock after selling 65,073 shares during the period. Invesco Ltd.’s holdings in Apogee Enterprises were worth $5,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. NumerixS Investment Technologies Inc purchased a new stake in shares of Apogee Enterprises in the second quarter worth about $26,000. Aperio Group LLC boosted its position in shares of Apogee Enterprises by 6.7% in the second quarter. Aperio Group LLC now owns 11,466 shares of the industrial products company’s stock worth $498,000 after buying an additional 715 shares during the period. Janney Capital Management LLC boosted its position in shares of Apogee Enterprises by 10.8% in the second quarter. Janney Capital Management LLC now owns 10,076 shares of the industrial products company’s stock worth $438,000 after buying an additional 985 shares during the period. Amundi Pioneer Asset Management Inc. boosted its position in shares of Apogee Enterprises by 2.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 49,058 shares of the industrial products company’s stock worth $1,840,000 after buying an additional 1,261 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Apogee Enterprises by 0.4% in the second quarter. Northern Trust Corp now owns 372,942 shares of the industrial products company’s stock worth $16,200,000 after buying an additional 1,542 shares during the period. 90.44% of the stock is owned by institutional investors.

APOG has been the subject of several analyst reports. Craig Hallum upped their target price on Apogee Enterprises from $46.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. ValuEngine raised Apogee Enterprises from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. BidaskClub downgraded Apogee Enterprises from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, TheStreet downgraded Apogee Enterprises from a “b-” rating to a “c+” rating in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $43.50.

Shares of APOG opened at $36.68 on Friday. The company has a market capitalization of $974.22 million, a P/E ratio of 12.39, a P/E/G ratio of 1.10 and a beta of 1.70. Apogee Enterprises Inc has a one year low of $26.38 and a one year high of $46.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 1.05. The stock has a 50-day moving average price of $38.32 and a 200 day moving average price of $39.07.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, September 17th. The industrial products company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.15. The firm had revenue of $357.10 million during the quarter, compared to the consensus estimate of $353.62 million. Apogee Enterprises had a return on equity of 15.92% and a net margin of 3.14%. Apogee Enterprises’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, equities research analysts forecast that Apogee Enterprises Inc will post 3.04 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Monday, October 21st will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, October 18th. Apogee Enterprises’s dividend payout ratio is currently 23.65%.

About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

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