Apogee Enterprises, Inc. (NASDAQ:APOG – Get Free Report)’s stock price traded up 3.7% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $51.64 and last traded at $51.15. 40,297 shares were traded during trading, a decline of 72% from the average session volume of 146,203 shares. The stock had previously closed at $49.31.
The industrial products company reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.24. The company had revenue of $353.70 million during the quarter, compared to analyst estimates of $371.19 million. Apogee Enterprises had a net margin of 7.26% and a return on equity of 23.39%. Apogee Enterprises’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 earnings per share.
Apogee Enterprises Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 27th. Stockholders of record on Wednesday, July 12th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, July 11th. Apogee Enterprises’s dividend payout ratio is currently 20.38%.
Wall Street Analyst Weigh In
Get Our Latest Stock Analysis on APOG
Insider Transactions at Apogee Enterprises
In related news, EVP Curtis John Dobler sold 3,727 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $46.95, for a total transaction of $174,982.65. Following the sale, the executive vice president now directly owns 34,314 shares of the company’s stock, valued at $1,611,042.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Curtis John Dobler sold 3,727 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $46.95, for a total transaction of $174,982.65. Following the completion of the transaction, the executive vice president now directly owns 34,314 shares of the company’s stock, valued at $1,611,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Meghan Marie Elliott sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $48.05, for a total transaction of $72,075.00. Following the completion of the sale, the insider now owns 24,977 shares in the company, valued at approximately $1,200,144.85. The disclosure for this sale can be found here. Insiders sold 19,727 shares of company stock worth $934,648 over the last quarter. 2.00% of the stock is currently owned by insiders.
Institutional Trading of Apogee Enterprises
Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Apogee Enterprises during the 4th quarter valued at about $13,539,000. Envestnet Asset Management Inc. grew its position in Apogee Enterprises by 2,523.4% during the first quarter. Envestnet Asset Management Inc. now owns 258,853 shares of the industrial products company’s stock valued at $328,000 after buying an additional 248,986 shares during the period. Millennium Management LLC increased its holdings in Apogee Enterprises by 175.5% during the fourth quarter. Millennium Management LLC now owns 322,360 shares of the industrial products company’s stock valued at $14,332,000 after buying an additional 205,330 shares during the last quarter. Vanguard Group Inc. raised its position in Apogee Enterprises by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,868,027 shares of the industrial products company’s stock worth $136,117,000 after acquiring an additional 182,687 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Apogee Enterprises by 3.8% during the 2nd quarter. BlackRock Inc. now owns 4,077,346 shares of the industrial products company’s stock worth $193,552,000 after acquiring an additional 149,438 shares during the last quarter. Institutional investors own 88.82% of the company’s stock.
Apogee Enterprises Trading Up 0.1 %
The stock has a fifty day moving average of $48.95 and a 200 day moving average of $44.66. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.34 and a current ratio of 1.69. The company has a market capitalization of $1.09 billion, a P/E ratio of 10.48 and a beta of 1.17.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and installs custom glass and aluminum windows, curtainwalls, storefront, and entrance systems for the exterior of buildings primarily in the commercial, institutional, and multi-family residential construction sectors.
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