Moran Wealth Management LLC Has $6.88 Million Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Moran Wealth Management LLC cut its holdings in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,381 shares of the industrial products company’s stock after selling 1,986 shares during the quarter. Moran Wealth Management LLC owned about 0.44% of Apogee Enterprises worth $6,883,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in Apogee Enterprises in the 3rd quarter valued at $213,000. Farther Finance Advisors LLC boosted its stake in Apogee Enterprises by 2,602.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 1,301 shares during the period. Janney Montgomery Scott LLC bought a new stake in Apogee Enterprises in the 3rd quarter valued at $1,800,000. Los Angeles Capital Management LLC boosted its stake in Apogee Enterprises by 1.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,078 shares of the industrial products company’s stock valued at $2,246,000 after purchasing an additional 439 shares during the period. Finally, Royce & Associates LP boosted its stake in Apogee Enterprises by 63.1% in the 3rd quarter. Royce & Associates LP now owns 22,197 shares of the industrial products company’s stock valued at $1,554,000 after purchasing an additional 8,589 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APOG has been the subject of a number of recent analyst reports. DA Davidson cut their target price on Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a research report on Tuesday, January 14th. Sidoti upgraded Apogee Enterprises from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. Finally, StockNews.com downgraded Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th.

Apogee Enterprises Trading Up 0.7 %

Shares of APOG stock opened at $48.24 on Tuesday. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 10.77 and a beta of 1.04. The stock has a 50-day moving average of $53.08 and a 200-day moving average of $67.26. The company has a current ratio of 1.63, a quick ratio of 1.27 and a debt-to-equity ratio of 0.52. Apogee Enterprises, Inc. has a 1-year low of $45.33 and a 1-year high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last issued its quarterly earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 earnings per share. On average, equities research analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current year.

Apogee Enterprises Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, January 28th. This represents a $1.04 annualized dividend and a yield of 2.16%. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. Apogee Enterprises’s dividend payout ratio (DPR) is currently 23.21%.

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).