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

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 762,000 shares, a drop of 17.9% from the December 31st total of 927,700 shares. Approximately 3.5% of the shares of the company are sold short. Based on an average trading volume of 186,600 shares, the short-interest ratio is currently 4.1 days.

Hedge Funds Weigh In On Apogee Enterprises

Several hedge funds have recently added to or reduced their stakes in APOG. Endeavor Private Wealth Inc. acquired a new position in Apogee Enterprises in the 4th quarter valued at about $32,000. Gladius Capital Management LP purchased a new stake in shares of Apogee Enterprises during the third quarter worth about $33,000. GAMMA Investing LLC raised its position in shares of Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after buying an additional 163 shares during the last quarter. Quarry LP lifted its stake in shares of Apogee Enterprises by 959.4% during the second quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after buying an additional 662 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Apogee Enterprises during the third quarter worth approximately $58,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Price Performance

Shares of NASDAQ APOG traded down $1.49 during midday trading on Friday, hitting $51.02. The company had a trading volume of 414,883 shares, compared to its average volume of 317,421. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $68.39 and a two-hundred day simple moving average of $69.94. Apogee Enterprises has a twelve month low of $49.58 and a twelve month high of $87.93. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 11.39 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $341.30 million for the quarter, compared to analyst estimates of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 EPS. Equities research analysts anticipate that Apogee Enterprises will post 4.97 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th will be given a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, January 28th. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.04%. Apogee Enterprises’s payout ratio is currently 23.21%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on APOG. DA Davidson dropped their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Singular Research raised Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th. Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th.

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).