August 26, 2023
Barrow Hanley Mewhinney & Strauss LLC Increases Position in Apogee Enterprises, Inc.
During the first quarter, investment firm Barrow Hanley Mewhinney & Strauss LLC reported a 2.0% increase in its position in Apogee Enterprises, Inc., according to a recent disclosure with the Securities and Exchange Commission. The firm now owns 1,147,502 shares of the industrial products company’s stock after purchasing an additional 22,685 shares during the period. This represents approximately 5.15% ownership of Apogee Enterprises with a total worth of $49,629,000 at the end of the reporting period.
Apogee Enterprises has received attention from various analysts recently. DA Davidson released a research note on June 27th, stating that they have boosted their price target on Apogee Enterprises from $44.00 to $50.00. Additionally, StockNews.com initiated coverage on the company on August 17th and issued a “buy” rating for its stock.
On Friday, August 25th, shares of Apogee Enterprises experienced a slight decrease by $0.20 and closed at $49.77 per share. The trading volume for that day reached 19,487 shares compared to an average volume of 145,106 shares. Currently valued at $1.10 billion in the market cap, this industrial products company has a price-to-earnings ratio of 10.61 and a beta of 1.17.
Apogee Enterprises maintains a strong financial standing with a debt-to-equity ratio of 0.42 and quick ratio of 1.34 as well as current ratio of 1.69 which indicates its ability to meet short-term obligations efficiently.
The company’s stock has been showing stability along its moving averages over the past year with a fifty-day moving average price of $47.87 and a two-hundred-day moving average price of $44.38. The lowest point for the company’s stock in the past twelve months was recorded at $36.62, while its highest point reached $51.17.
In conclusion, Barrow Hanley Mewhinney & Strauss LLC’s increased position in Apogee Enterprises highlights investor confidence in the company’s future performance. The boost in the price target by DA Davidson further reinforces positive sentiment towards Apogee Enterprises. As the industrial products company continues to show financial stability and maintain a strong market position, investors will likely keep a close watch on its stock performance moving forward.
Note: The information provided is accurate as of the stated reference date and may be subject to change over time.
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Apogee Enterprises Inc. Receives Investment Boost from Institutional Investors and Delivers Strong Earnings
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”APOG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Apogee Enterprises, Inc. (NASDAQ:APOG) has recently seen modifications in holdings from various institutional investors and hedge funds. Point72 Middle East FZE acquired a new stake in the company during the fourth quarter of last year, valued at $42,000. Stonebridge Capital Advisors LLC also gained a new stake during the first quarter, valued at $47,000. Point72 Hong Kong Ltd increased its stake by 35.1% during the same period, now owning 1,300 shares valued at $62,000. Captrust Financial Advisors boosted its stake by 79.2% in the first quarter and currently owns 2,090 shares worth $99,000. Tower Research Capital LLC TRC also increased its stake in Apogee Enterprises by 92.1% in the third quarter last year and now holds 3,149 shares valued at $121,000. It is worth mentioning that currently, approximately 88.52% of Apogee Enterprises’ stock is owned by institutional investors.
In further news related to the company’s stock market activities, EVP Curtis John Dobler sold 3,727 shares of Apogee Enterprises’ stock on Wednesday, July 19th at an average price of $46.95 per share, resulting in a total value of $174,982.65. Following this transaction’s completion, Dobler now holds a total of 34,314 shares valued at $1,6116 ,042.30 as an executive vice president within the company. This information has been disclosed through a filing with the Securities & Exchange Commission (SEC) and can be accessed on their website.
Meanwhile insider Jane Marie Boyce sold 14,500 shares of Apogee Enterprises’ stock on Tuesday,
July 18th for an average price of $47.42 per share resulting in a total value of
$68759000 . Following this transaction’s completion, Boyce now directly owns 42,603 shares of the company’s stock valued at $2,020,234.26. This sale was also disclosed through a legal filing with SEC and details concerning it can be found on their website.
Furthermore, Dobler conducted another stock sale during Wednesday, July 19th by selling 3,727 shares at an average price of $46.95 per share resulting in a total value of $17498200 . Following this transaction, Dobler currently holds 34,314 shares valued at a sum of
$1 ,611 ,042.30 . The disclosure regarding this particular sale is available here.
It should be noted that insiders have sold a cumulative total of 19,727 shares worth $934648 over the past three months, with approximately 2% of the company’s stock currently being owned by insiders.
Apogee Enterprises has received ratings from several analysts recently. DA Davidson raised its price target on the company from $44.00 to $50.00 in a research note published on Tuesday, June 27th. StockNews.com initiated coverage on Apogee Enterprises and issued a “buy” rating for the stock on Thursday,
August17th.
Apogee Enterprises last released its earnings results on Friday, June 23rd. The industrial products company announced earnings per share (EPS) of $1.05 for the quarter, surpassing analysts’ consensus estimates by $0.15.The company reported quarterly revenue of $361.80 million compared to the anticipated consensus estimate of $355.60 million. Notably ,Apogee Enterprises had a return on equity (ROE) of
2339% and a net margin (NM) of726%. Moreover ,the firm’s quarterly revenue showed growth rate with an increase in sales by 1·5% compared to the same quarter last year . In the previous year’s corresponding quarter, Apogee Enterprises had posted $1.00 of earnings per share (EPS). Wall Street analysts anticipate that the company will report 4·22 EPS for the current fiscal year.
The firm also recently declared its quarterly dividend which was paid on Thursday, July 27th to stockholders of record as of Wednesday, July 12th. The dividend amounted to $0.24 per share with an ex-dividend date set as Tuesday, July 11th. On an annualized basis, this represents a dividend of $0.96 and a dividend yield of approximately 1·93%. At present ,Apogee Enterprises maintains a payout ratio valued at 2038%, illustrating the percentage of earnings dispersed as dividends.
In conclusion, Apogee Enterprises Inc.’s latest activities in terms of its institutional investors and stock market transactions have been notable. The company has attracted the attention and investment from various institutions and insiders alike. Meanwhile, it has delivered positive earnings results, outperforming analysts’ expectations while continuing to demonstrate growth in revenue. Moreover, Apogee Enterprises has rewarded its stockholders with regular dividends.
