Victory Capital Management Inc. Increases Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Victory Capital Management Inc. grew its holdings in Apogee Enterprises, Inc. (NASDAQ:APOG) by 1.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,170,654 shares of the industrial products company’s stock after buying an additional 14,687 shares during the period. Victory Capital Management Inc. owned 5.47% of Apogee Enterprises worth $54,236,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Apogee Enterprises by 87.9% during the fourth quarter. JPMorgan Chase & Co. now owns 186,744 shares of the industrial products company’s stock worth $13,335,000 after purchasing an additional 87,356 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Apogee Enterprises by 196.2% during the fourth quarter. Renaissance Technologies LLC now owns 122,883 shares of the industrial products company’s stock worth $8,775,000 after purchasing an additional 81,400 shares in the last quarter. Norges Bank purchased a new position in Apogee Enterprises during the fourth quarter worth about $5,698,000. American Century Companies Inc. raised its holdings in Apogee Enterprises by 12.9% during the fourth quarter. American Century Companies Inc. now owns 692,139 shares of the industrial products company’s stock worth $49,426,000 after purchasing an additional 79,009 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Apogee Enterprises in the 4th quarter worth approximately $5,535,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Apogee Enterprises Stock Performance

Shares of APOG stock opened at $41.97 on Friday. The company’s fifty day simple moving average is $40.43 and its 200-day simple moving average is $45.94. Apogee Enterprises, Inc. has a 52 week low of $37.53 and a 52 week high of $87.93. The company has a current ratio of 1.77, a quick ratio of 1.36 and a debt-to-equity ratio of 0.65. The company has a market cap of $903.61 million, a PE ratio of 17.94 and a beta of 0.96.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Friday, June 27th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $346.62 million for the quarter, compared to the consensus estimate of $326.08 million. Apogee Enterprises had a net margin of 3.73% and a return on equity of 17.79%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities research analysts anticipate that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. Apogee Enterprises’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson lowered their price target on shares of Apogee Enterprises from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of Apogee Enterprises from a “hold” rating to a “buy” rating in a research report on Friday.

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).