Kingsview Wealth Management LLC Invests $2.13 Million in Apogee Enterprises, Inc. (NASDAQ:APOG)

Kingsview Wealth Management LLC acquired a new stake in Apogee Enterprises, Inc. (NASDAQ:APOG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 30,477 shares of the industrial products company’s stock, valued at approximately $2,134,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Apogee Enterprises by 15.5% in the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after acquiring an additional 122,811 shares during the last quarter. American Century Companies Inc. lifted its stake in Apogee Enterprises by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after purchasing an additional 99,495 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Apogee Enterprises by 1.3% during the second quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock worth $19,053,000 after purchasing an additional 3,881 shares during the period. Assenagon Asset Management S.A. increased its position in Apogee Enterprises by 70.8% during the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock worth $11,369,000 after buying an additional 67,295 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Apogee Enterprises by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company’s stock valued at $8,582,000 after buying an additional 5,964 shares during the period. 94.05% of the stock is owned by institutional investors.

Apogee Enterprises Trading Up 2.0 %

Shares of APOG stock opened at $84.87 on Tuesday. Apogee Enterprises, Inc. has a 12-month low of $44.46 and a 12-month high of $87.93. The company has a market capitalization of $1.86 billion, a PE ratio of 17.87 and a beta of 0.97. The firm has a 50 day moving average price of $76.87 and a two-hundred day moving average price of $68.31. The company has a quick ratio of 1.32, a current ratio of 1.65 and a debt-to-equity ratio of 0.12.

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

Apogee Enterprises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Tuesday, October 22nd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Tuesday, October 22nd. Apogee Enterprises’s dividend payout ratio is 21.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on APOG. StockNews.com lowered Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Friday, November 15th. DA Davidson upped their price objective on shares of Apogee Enterprises from $65.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th.

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).