Bank of Montreal Can lifted its stake in shares of Apogee Enterprises Inc (NASDAQ:APOG) by 748.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,617 shares of the industrial products company’s stock after purchasing an additional 38,479 shares during the period. Bank of Montreal Can owned about 0.15% of Apogee Enterprises worth $1,802,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of APOG. Royal Bank of Canada boosted its position in Apogee Enterprises by 72.9% in the first quarter. Royal Bank of Canada now owns 8,883 shares of the industrial products company’s stock worth $384,000 after purchasing an additional 3,746 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in shares of Apogee Enterprises during the 1st quarter valued at about $214,000. Fox Run Management L.L.C. purchased a new position in shares of Apogee Enterprises during the 2nd quarter valued at about $284,000. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Apogee Enterprises during the 2nd quarter valued at about $727,000. Finally, Reilly Financial Advisors LLC lifted its position in shares of Apogee Enterprises by 10.2% during the 2nd quarter. Reilly Financial Advisors LLC now owns 32,115 shares of the industrial products company’s stock valued at $1,547,000 after buying an additional 2,980 shares in the last quarter. 98.32% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on APOG. Zacks Investment Research raised Apogee Enterprises from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. DA Davidson set a $48.00 price objective on Apogee Enterprises and gave the company a “hold” rating in a research report on Wednesday, September 19th. ValuEngine cut Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 20th. BidaskClub cut Apogee Enterprises from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 11th. Finally, TheStreet downgraded Apogee Enterprises from a “b” rating to a “c+” rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $50.25.
Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Tuesday, September 18th. The industrial products company reported $0.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.09). Apogee Enterprises had a net margin of 5.81% and a return on equity of 16.96%. The company had revenue of $362.10 million for the quarter, compared to the consensus estimate of $364.57 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts predict that Apogee Enterprises Inc will post 3.2 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 7th. Shareholders of record on Tuesday, October 23rd were issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, October 22nd. Apogee Enterprises’s dividend payout ratio is 20.32%.
Apogee Enterprises declared that its board has approved a stock buyback program on Wednesday, October 3rd that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, Director Herbert K. Parker bought 5,000 shares of the stock in a transaction on Thursday, September 27th. The stock was acquired at an average cost of $41.52 per share, for a total transaction of $207,600.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.
About Apogee Enterprises
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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