Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week High Following Better-Than-Expected Earnings

Shares of Apogee Enterprises, Inc. (NASDAQ:APOG) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $62.99 and last traded at $61.47, with a volume of 57760 shares trading hands. The stock had previously closed at $55.92.

The industrial products company reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.17. Apogee Enterprises had a return on equity of 23.47% and a net margin of 7.44%. The firm had revenue of $361.80 million during the quarter, compared to the consensus estimate of $337.84 million. During the same period last year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in APOG. GAMMA Investing LLC acquired a new position in shares of Apogee Enterprises during the 4th quarter worth $31,000. West Tower Group LLC increased its position in Apogee Enterprises by 167.1% during the 4th quarter. West Tower Group LLC now owns 577 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 361 shares in the last quarter. Point72 Middle East FZE purchased a new stake in Apogee Enterprises during the 4th quarter worth about $42,000. Stonebridge Capital Advisors LLC purchased a new stake in Apogee Enterprises during the 1st quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Apogee Enterprises during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Trading Down 3.2 %

The stock has a market cap of $1.28 billion, a PE ratio of 12.30 and a beta of 1.10. The business has a 50-day moving average of $57.19 and a 200 day moving average of $51.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.28 and a current ratio of 1.57.

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.