Apogee Enterprises (NASDAQ:APOG) Shares Gap Up After Earnings Beat

Apogee Enterprises, Inc. (NASDAQ:APOG) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $39.67, but opened at $48.86. Apogee Enterprises shares last traded at $41.99, with a volume of 429,590 shares changing hands.

The industrial products company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. Apogee Enterprises had a return on equity of 21.81% and a net margin of 6.25%. During the same period last year, the business posted $1.44 earnings per share. Apogee Enterprises’s revenue for the quarter was up 4.6% on a year-over-year basis.

Apogee Enterprises Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 2.48%. Apogee Enterprises’s dividend payout ratio is currently 26.80%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Apogee Enterprises

Large investors have recently made changes to their positions in the business. New Age Alpha Advisors LLC bought a new stake in shares of Apogee Enterprises in the 4th quarter worth about $40,000. Public Employees Retirement System of Ohio bought a new position in Apogee Enterprises during the 4th quarter valued at about $42,000. Financial Gravity Asset Management Inc. bought a new position in Apogee Enterprises during the 1st quarter valued at about $44,000. Meeder Asset Management Inc. bought a new position in Apogee Enterprises during the 4th quarter valued at about $57,000. Finally, Quarry LP grew its holdings in Apogee Enterprises by 3,991.1% during the 1st quarter. Quarry LP now owns 1,841 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 1,796 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.

Apogee Enterprises Stock Performance

The company has a market capitalization of $905.72 million, a PE ratio of 10.82 and a beta of 0.97. The company has a current ratio of 1.55, a quick ratio of 1.23 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $39.97 and its 200-day simple moving average is $49.16.

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).