Apogee Enterprises, Inc. (NASDAQ:APOG) Short Interest Down 17.9% in December

Apogee Enterprises, Inc. (NASDAQ:APOG) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 762,000 shares, a decline of 17.9% from the December 15th total of 927,700 shares. Approximately 3.5% of the company’s shares are sold short. Based on an average daily volume of 186,600 shares, the days-to-cover ratio is currently 4.1 days.

Apogee Enterprises Stock Up 2.4 %

Shares of NASDAQ APOG opened at $55.69 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $74.17 and its two-hundred day moving average is $70.40. Apogee Enterprises has a 52-week low of $49.58 and a 52-week high of $87.93. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 12.43 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. Research analysts predict that Apogee Enterprises will post 4.96 EPS for the current year.

Apogee Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Tuesday, January 28th. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio is currently 22.32%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in APOG. Endeavor Private Wealth Inc. purchased a new position in Apogee Enterprises in the 4th quarter valued at approximately $32,000. Gladius Capital Management LP acquired a new stake in shares of Apogee Enterprises in the third quarter valued at $33,000. GAMMA Investing LLC boosted its holdings in Apogee Enterprises by 43.2% in the third quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 163 shares during the period. Quarry LP grew its stake in Apogee Enterprises by 959.4% during the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 662 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Apogee Enterprises during the 3rd quarter worth about $58,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on APOG. StockNews.com downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. DA Davidson reduced their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Singular Research raised Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday. Finally, Sidoti raised Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th.

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).