Bank of New York Mellon Corp Trims Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Bank of New York Mellon Corp trimmed its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 4.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,227 shares of the industrial products company’s stock after selling 10,674 shares during the period. Bank of New York Mellon Corp owned 1.09% of Apogee Enterprises worth $11,037,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of APOG. JPMorgan Chase & Co. grew its stake in Apogee Enterprises by 87.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,744 shares of the industrial products company’s stock valued at $13,335,000 after acquiring an additional 87,356 shares in the last quarter. Renaissance Technologies LLC grew its stake in Apogee Enterprises by 196.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,883 shares of the industrial products company’s stock valued at $8,775,000 after acquiring an additional 81,400 shares in the last quarter. Norges Bank purchased a new position in Apogee Enterprises during the fourth quarter valued at $5,698,000. American Century Companies Inc. grew its stake in Apogee Enterprises by 12.9% during the fourth quarter. American Century Companies Inc. now owns 692,139 shares of the industrial products company’s stock valued at $49,426,000 after acquiring an additional 79,009 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Apogee Enterprises during the fourth quarter valued at $5,535,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on APOG. Wall Street Zen raised shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Friday. DA Davidson cut their target price on shares of Apogee Enterprises from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, July 1st.

Apogee Enterprises Stock Performance

Shares of NASDAQ:APOG opened at $41.97 on Monday. Apogee Enterprises, Inc. has a 52 week low of $37.53 and a 52 week high of $87.93. The stock has a market capitalization of $903.61 million, a P/E ratio of 17.94 and a beta of 0.96. The firm has a fifty day simple moving average of $40.43 and a two-hundred day simple moving average of $45.59. The company has a quick ratio of 1.36, a current ratio of 1.77 and a debt-to-equity ratio of 0.65.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings data on Friday, June 27th. The industrial products company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The business had revenue of $346.62 million during the quarter, compared to analysts’ expectations of $326.08 million. During the same period last year, the company posted $1.44 EPS. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts expect that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.48%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 44.44%.

Apogee Enterprises 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).