Apogee Enterprises, Inc. (NASDAQ:APOG) Short Interest Up 9.1% in November

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 867,600 shares, a growth of 9.1% from the November 15th total of 795,500 shares. Based on an average daily trading volume, of 157,500 shares, the short-interest ratio is presently 5.5 days. Currently, 4.0% of the company’s stock are sold short.

Institutional Trading of Apogee Enterprises

A number of large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Apogee Enterprises in the second quarter worth $3,547,000. Renaissance Technologies LLC lifted its position in Apogee Enterprises by 1,004.1% in the 2nd quarter. Renaissance Technologies LLC now owns 72,683 shares of the industrial products company’s stock worth $4,567,000 after buying an additional 66,100 shares during the last quarter. Farther Finance Advisors LLC grew its position in Apogee Enterprises by 2,602.0% during the third quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $95,000 after acquiring an additional 1,301 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter worth approximately $2,134,000. Finally, Quest Partners LLC boosted its stake in shares of Apogee Enterprises by 115,311.1% in the 2nd quarter. Quest Partners LLC now owns 10,387 shares of the industrial products company’s stock valued at $653,000 after purchasing an additional 10,378 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APOG has been the subject of a number of research analyst reports. DA Davidson lifted their price objective on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Monday, December 9th.

Apogee Enterprises Price Performance

APOG traded down $1.74 on Friday, reaching $76.80. The stock had a trading volume of 145,012 shares, compared to its average volume of 147,178. The firm has a 50-day moving average of $80.39 and a 200-day moving average of $69.86. Apogee Enterprises has a fifty-two week low of $50.03 and a fifty-two week high of $87.93. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 16.17 and a beta of 0.99. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Friday, October 4th. The industrial products company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $342.40 million during the quarter, compared to the consensus estimate of $335.31 million. During the same quarter last year, the firm posted $1.36 EPS. Apogee Enterprises’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Apogee Enterprises will post 5.06 EPS for the current year.

Apogee Enterprises Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, October 22nd. Apogee Enterprises’s payout ratio is 21.05%.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc provides architectural products and services for enclosing buildings, and glass and acrylic products used for preservation, protection, and enhanced viewing in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).