Short Interest in Apogee Enterprises, Inc. (NASDAQ:APOG) Decreases By 13.1%

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a large decrease in short interest in October. As of October 15th, there was short interest totalling 877,700 shares, a decrease of 13.1% from the September 30th total of 1,010,000 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 139,200 shares, the short-interest ratio is presently 6.3 days.

Apogee Enterprises Stock Performance

Shares of NASDAQ APOG opened at $75.86 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.66 billion, a P/E ratio of 15.58 and a beta of 0.98. Apogee Enterprises has a 12 month low of $41.39 and a 12 month high of $86.22. The stock has a 50 day moving average of $70.67 and a 200-day moving average of $65.65.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.23 by $0.21. The firm had revenue of $342.40 million for the quarter, compared to the consensus estimate of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 earnings per share. As a group, equities research analysts predict that Apogee Enterprises will post 5.06 EPS for the current year.

Apogee Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, October 22nd. Apogee Enterprises’s dividend payout ratio is presently 20.53%.

Hedge Funds Weigh In On Apogee Enterprises

A number of large investors have recently made changes to their positions in APOG. Vanguard Group Inc. boosted its stake in Apogee Enterprises by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock valued at $165,429,000 after purchasing an additional 53,484 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Apogee Enterprises by 599.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,119 shares of the industrial products company’s stock valued at $66,000 after acquiring an additional 959 shares during the period. Principal Financial Group Inc. grew its stake in shares of Apogee Enterprises by 2.1% in the first quarter. Principal Financial Group Inc. now owns 122,891 shares of the industrial products company’s stock valued at $7,275,000 after acquiring an additional 2,522 shares in the last quarter. Texas Permanent School Fund Corp increased its position in Apogee Enterprises by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 19,329 shares of the industrial products company’s stock worth $1,144,000 after acquiring an additional 261 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Apogee Enterprises in the 1st quarter worth about $747,000. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on APOG shares. StockNews.com raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. DA Davidson raised their target price on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th.

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).