Bank of Montreal Can Reduces Position in Apergy Corp (APY)

Bank of Montreal Can reduced its position in shares of Apergy Corp (NYSE:APY) by 8.9% in the 1st quarter, Holdings Channel reports. The firm owned 48,597 shares of the company’s stock after selling 4,772 shares during the quarter. Bank of Montreal Can’s holdings in Apergy were worth $1,997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in APY. Fort L.P. acquired a new position in Apergy in the 4th quarter valued at $30,000. Phocas Financial Corp. acquired a new position in Apergy in the 4th quarter valued at $30,000. Oregon Public Employees Retirement Fund raised its holdings in Apergy by 2,643.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 837,016 shares of the company’s stock valued at $31,000 after acquiring an additional 806,508 shares in the last quarter. Essex Savings Bank acquired a new position in Apergy in the 4th quarter valued at $32,000. Finally, Bremer Trust National Association acquired a new position in Apergy in the 4th quarter valued at $33,000. 91.85% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Sivasankaran Somasundaram sold 893 shares of Apergy stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $41.77, for a total value of $37,300.61. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 1,128 shares of company stock worth $47,064. Corporate insiders own 0.77% of the company’s stock.

Shares of APY opened at $34.43 on Friday. Apergy Corp has a 52-week low of $25.85 and a 52-week high of $46.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.44 and a current ratio of 2.53. The firm has a market capitalization of $2.66 billion and a PE ratio of 23.91.

Apergy (NYSE:APY) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Apergy had a return on equity of 11.40% and a net margin of 7.47%. The company had revenue of $301.70 million for the quarter, compared to analyst estimates of $301.37 million. The company’s revenue was up 6.6% on a year-over-year basis. Equities research analysts expect that Apergy Corp will post 1.47 earnings per share for the current year.

Several equities analysts have weighed in on APY shares. Wells Fargo & Co started coverage on Apergy in a report on Monday, March 4th. They issued an “outperform” rating and a $52.00 price objective for the company. Barclays reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Apergy in a report on Wednesday, February 20th. Zacks Investment Research raised Apergy from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Gabelli started coverage on Apergy in a report on Wednesday, January 23rd. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Bank of America reaffirmed a “buy” rating and issued a $46.00 price objective (up from $42.00) on shares of Apergy in a report on Wednesday, February 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $45.80.

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Apergy Profile

Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

Further Reading: What is an SEC Filing?

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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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