Magnetar Financial LLC Acquires Shares of 12,657 Apogee Enterprises, Inc. $APOG

Magnetar Financial LLC bought a new position in Apogee Enterprises, Inc. (NASDAQ:APOG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 12,657 shares of the industrial products company’s stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC grew its holdings in Apogee Enterprises by 1,074.3% in the 1st quarter. Millennium Management LLC now owns 320,220 shares of the industrial products company’s stock worth $14,836,000 after acquiring an additional 292,952 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Apogee Enterprises by 103.2% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 193,150 shares of the industrial products company’s stock worth $8,949,000 after purchasing an additional 98,080 shares during the period. American Century Companies Inc. grew its stake in shares of Apogee Enterprises by 9.9% in the first quarter. American Century Companies Inc. now owns 760,821 shares of the industrial products company’s stock worth $35,249,000 after purchasing an additional 68,682 shares during the last quarter. CX Institutional raised its position in Apogee Enterprises by 120.7% during the 2nd quarter. CX Institutional now owns 119,022 shares of the industrial products company’s stock valued at $4,832,000 after purchasing an additional 65,096 shares during the last quarter. Finally, Nuveen LLC bought a new position in Apogee Enterprises during the 1st quarter valued at approximately $2,567,000. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APOG has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Apogee Enterprises in a research report on Thursday, October 30th. Wall Street Zen raised Apogee Enterprises from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, DA Davidson upgraded shares of Apogee Enterprises from a “neutral” rating to a “buy” rating and set a $47.00 price target on the stock in a report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Apogee Enterprises currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Apogee Enterprises Stock Down 0.4%

APOG stock opened at $35.17 on Tuesday. Apogee Enterprises, Inc. has a fifty-two week low of $32.77 and a fifty-two week high of $86.66. The company has a market capitalization of $756.51 million, a price-to-earnings ratio of 17.24 and a beta of 1.10. The business’s 50 day moving average price is $38.98 and its two-hundred day moving average price is $40.60. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.76.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Friday, October 10th. The industrial products company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.14. The company had revenue of $358.19 million for the quarter, compared to analyst estimates of $350.91 million. Apogee Enterprises had a return on equity of 15.76% and a net margin of 3.19%.The firm’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.44 earnings per share. As a group, analysts forecast that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Wednesday, October 29th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Wednesday, October 29th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 50.98%.

Apogee Enterprises Company Profile

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).