Apogee Enterprises (NASDAQ:APOG) Sets New 1-Year Low – Time to Sell?

Apogee Enterprises, Inc. (NASDAQ:APOG) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $47.63 and last traded at $48.48, with a volume of 184038 shares traded. The stock had previously closed at $48.16.

Wall Street Analysts Forecast Growth

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

Apogee Enterprises Trading Up 0.7 %

The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 10.82 and a beta of 1.01. The firm has a 50 day moving average price of $58.00 and a two-hundred day moving average price of $68.35.

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

Apogee Enterprises Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th were issued a $0.26 dividend. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. The ex-dividend date was Tuesday, January 28th. This represents a $1.04 annualized dividend and a yield of 2.15%. Apogee Enterprises’s payout ratio is presently 23.21%.

Institutional Trading of Apogee Enterprises

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its position in shares of Apogee Enterprises by 64.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 73,733 shares of the industrial products company’s stock valued at $5,162,000 after purchasing an additional 28,845 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Apogee Enterprises in the third quarter valued at approximately $38,740,000. Assenagon Asset Management S.A. boosted its holdings in shares of Apogee Enterprises by 70.8% during the 3rd 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 in the last quarter. Dakota Wealth Management acquired a new stake in shares of Apogee Enterprises during the 3rd quarter worth approximately $202,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Apogee Enterprises in the 3rd quarter valued at $213,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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).