Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Large Drop in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 762,000 shares, a decrease of 17.9% from the December 15th total of 927,700 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average daily volume of 186,600 shares, the short-interest ratio is presently 4.1 days.

Institutional Investors Weigh In On Apogee Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in shares of Apogee Enterprises during the third quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in Apogee Enterprises by 43.2% during the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 163 shares during the period. Quarry LP boosted its stake in Apogee Enterprises by 959.4% in the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 662 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Apogee Enterprises during the third quarter valued at approximately $58,000. Finally, CWM LLC increased its position in Apogee Enterprises by 19.9% in the third quarter. CWM LLC now owns 1,147 shares of the industrial products company’s stock worth $80,000 after buying an additional 190 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday. Finally, DA Davidson reduced their price objective on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th.

Apogee Enterprises Stock Up 0.8 %

Shares of APOG traded up $0.42 during midday trading on Thursday, reaching $55.11. 30,804 shares of the company were exchanged, compared to its average volume of 413,256. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 12.30 and a beta of 1.04. The company has a current ratio of 1.63, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. Apogee Enterprises has a 1-year low of $49.58 and a 1-year high of $87.93. The stock has a 50-day moving average price of $75.37 and a 200-day moving average price of $70.55.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a net margin of 7.14% and a return on equity of 23.14%. The business had revenue of $341.30 million during the quarter, compared to the consensus estimate of $332.27 million. During the same period in the prior year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. Research analysts expect that Apogee Enterprises will post 4.96 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.89%. This is an increase from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is currently 22.32%.

About Apogee Enterprises

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).