Apogee Enterprises, Inc. (NASDAQ:APOG) Sees Significant Increase in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) was the target of a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 495,900 shares, an increase of 27.2% from the May 15th total of 390,000 shares. Based on an average daily trading volume, of 202,200 shares, the short-interest ratio is presently 2.5 days. Currently, 2.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, April 25th.

Apogee Enterprises Trading Down 0.9%

APOG opened at $37.58 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.55 and a quick ratio of 1.23. The company has a market cap of $810.60 million, a price-to-earnings ratio of 9.69 and a beta of 0.97. The firm has a 50 day simple moving average of $40.91 and a 200 day simple moving average of $51.26. Apogee Enterprises has a fifty-two week low of $37.53 and a fifty-two week high of $87.93.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings results on Thursday, April 24th. The industrial products company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The business had revenue of $345.69 million for the quarter, compared to the consensus estimate of $331.82 million. Apogee Enterprises had a return on equity of 21.81% and a net margin of 6.25%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. On average, sell-side analysts anticipate that Apogee Enterprises will post 4.97 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Tuesday, May 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.77%. The ex-dividend date was Tuesday, May 13th. Apogee Enterprises’s payout ratio is presently 26.80%.

Institutional Investors Weigh In On Apogee Enterprises

Large investors have recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in Apogee Enterprises by 35.3% in the fourth quarter. Franklin Resources Inc. now owns 44,247 shares of the industrial products company’s stock valued at $3,160,000 after purchasing an additional 11,552 shares in the last quarter. Bank of America Corp DE increased its stake in Apogee Enterprises by 6.7% in the fourth quarter. Bank of America Corp DE now owns 103,804 shares of the industrial products company’s stock valued at $7,413,000 after purchasing an additional 6,529 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Apogee Enterprises in the fourth quarter valued at approximately $706,000. Bank of Montreal Can increased its stake in Apogee Enterprises by 4.0% in the fourth quarter. Bank of Montreal Can now owns 7,734 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 298 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Apogee Enterprises in the fourth quarter valued at approximately $636,000. Institutional investors own 94.05% of the company’s stock.

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).