Apogee Enterprises (NASDAQ:APOG – Get Rating) issued its quarterly earnings data on Tuesday. The industrial products company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.23, Briefing.com reports. The business had revenue of $372.10 million for the quarter, compared to analyst estimates of $342.84 million. Apogee Enterprises had a return on equity of 17.91% and a net margin of 1.15%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. Apogee Enterprises updated its FY 2023 guidance to $3.75-$4.05 EPS and its FY23 guidance to $3.75-4.05 EPS.
Apogee Enterprises Price Performance
Shares of APOG stock opened at $41.42 on Wednesday. The stock has a 50 day moving average of $41.31 and a two-hundred day moving average of $42.74. The company has a current ratio of 1.79, a quick ratio of 1.32 and a debt-to-equity ratio of 0.80. Apogee Enterprises has a 12 month low of $33.88 and a 12 month high of $50.44. The company has a market capitalization of $917.74 million, a P/E ratio of 60.03 and a beta of 1.07.
Apogee Enterprises Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Tuesday, July 12th were given a $0.22 dividend. The ex-dividend date was Monday, July 11th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.12%. Apogee Enterprises’s dividend payout ratio is currently 127.54%.
Wall Street Analyst Weigh In
Insiders Place Their Bets
In related news, insider Brent C. Jewell sold 1,313 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $37.88, for a total transaction of $49,736.44. Following the completion of the transaction, the insider now owns 23,111 shares in the company, valued at approximately $875,444.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Brent C. Jewell sold 1,313 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $37.88, for a total transaction of $49,736.44. Following the completion of the sale, the insider now directly owns 23,111 shares of the company’s stock, valued at approximately $875,444.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Gary Robert Johnson sold 2,187 shares of the firm’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $40.00, for a total value of $87,480.00. Following the sale, the senior vice president now directly owns 36,600 shares of the company’s stock, valued at $1,464,000. The disclosure for this sale can be found here. Corporate insiders own 1.82% of the company’s stock.
Institutional Investors Weigh In On Apogee Enterprises
A number of hedge funds and other institutional investors have recently bought and sold shares of APOG. Stonebridge Capital Advisors LLC acquired a new stake in Apogee Enterprises during the 1st quarter valued at $47,000. Point72 Hong Kong Ltd increased its stake in shares of Apogee Enterprises by 35.1% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,300 shares of the industrial products company’s stock valued at $62,000 after buying an additional 338 shares during the period. Captrust Financial Advisors increased its stake in shares of Apogee Enterprises by 79.2% in the 1st quarter. Captrust Financial Advisors now owns 2,090 shares of the industrial products company’s stock valued at $99,000 after buying an additional 924 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Apogee Enterprises in the 2nd quarter valued at $337,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Apogee Enterprises by 10.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 9,561 shares of the industrial products company’s stock valued at $375,000 after buying an additional 892 shares during the period. 89.95% of the stock is owned by institutional investors and hedge funds.
Apogee Enterprises Company Profile
Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in 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; curtain wall; storefront; and entrance systems, such as the outside skin and entrances of commercial, institutional, and multi-family residential buildings.
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