Envestnet Asset Management Inc. Invests $228,000 in Apogee Enterprises, Inc. (NASDAQ:APOG)

Envestnet Asset Management Inc. purchased a new stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,192 shares of the industrial products company’s stock, valued at approximately $228,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new position in shares of Apogee Enterprises in the fourth quarter valued at approximately $824,000. Franklin Resources Inc. increased its holdings in Apogee Enterprises by 35.3% during the 4th quarter. Franklin Resources Inc. now owns 44,247 shares of the industrial products company’s stock valued at $3,160,000 after purchasing an additional 11,552 shares in the last quarter. Ritholtz Wealth Management raised its position in Apogee Enterprises by 69.0% in the 4th quarter. Ritholtz Wealth Management now owns 22,095 shares of the industrial products company’s stock valued at $1,578,000 after purchasing an additional 9,019 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Apogee Enterprises in the fourth quarter worth $706,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Apogee Enterprises during the fourth quarter worth $636,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. DA Davidson dropped their target price on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th. Finally, StockNews.com cut shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, April 25th.

Apogee Enterprises Stock Down 2.0 %

Shares of NASDAQ:APOG opened at $38.75 on Thursday. The company has a 50 day moving average of $45.21 and a 200-day moving average of $59.76. Apogee Enterprises, Inc. has a one year low of $38.45 and a one year high of $87.93. The stock has a market cap of $830.03 million, a price-to-earnings ratio of 8.65 and a beta of 0.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27.

Apogee Enterprises (NASDAQ:APOG) last announced its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The company had revenue of $345.69 million for the quarter, compared to analyst estimates of $331.82 million. During the same period last year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 13th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $1.04 annualized dividend and a yield of 2.68%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 26.80%.

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).