KLP Kapitalforvaltning AS Buys 4,600 Shares of Apogee Enterprises, Inc. (NASDAQ:APOG)

KLP Kapitalforvaltning AS increased its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 51.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the industrial products company’s stock after buying an additional 4,600 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Apogee Enterprises worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. New Age Alpha Advisors LLC bought a new position in Apogee Enterprises in the 4th quarter valued at $40,000. Public Employees Retirement System of Ohio bought a new position in Apogee Enterprises in the 4th quarter valued at $42,000. Financial Gravity Asset Management Inc. bought a new position in Apogee Enterprises in the 1st quarter valued at $44,000. Meeder Asset Management Inc. bought a new position in Apogee Enterprises in the 4th quarter valued at $57,000. Finally, Johnson Investment Counsel Inc. raised its position in Apogee Enterprises by 16.7% in the 1st quarter. Johnson Investment Counsel Inc. now owns 4,633 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 663 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Apogee Enterprises Stock Down 0.7%

Shares of Apogee Enterprises stock opened at $42.47 on Wednesday. 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, Inc. has a 12 month low of $37.53 and a 12 month high of $87.93. The business has a fifty day simple moving average of $40.59 and a 200 day simple moving average of $44.86. The stock has a market cap of $914.38 million, a PE ratio of 18.15 and a beta of 0.96.

Apogee Enterprises (NASDAQ:APOG) last announced 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 return on equity of 17.79% and a net margin of 3.73%. The business had revenue of $346.62 million during the quarter, compared to analysts’ expectations of $326.08 million. During the same period in the previous year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Research analysts predict that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. Apogee Enterprises’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APOG shares. Wall Street Zen cut Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. DA Davidson lowered their target price on 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 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).