Connor Clark & Lunn Investment Management Ltd. Sells 27,354 Shares of Apogee Enterprises, Inc. (NASDAQ:APOG)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 42.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,463 shares of the industrial products company’s stock after selling 27,354 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Apogee Enterprises were worth $2,604,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Endeavor Private Wealth Inc. purchased a new position in shares of Apogee Enterprises during the fourth quarter worth approximately $32,000. Harvest Fund Management Co. Ltd bought a new position in Apogee Enterprises in the third quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Apogee Enterprises by 44.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 396 shares during the period. KBC Group NV raised its position in Apogee Enterprises by 46.7% during the 4th quarter. KBC Group NV now owns 1,282 shares of the industrial products company’s stock valued at $92,000 after purchasing an additional 408 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Apogee Enterprises in the 3rd quarter worth $131,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Apogee Enterprises Price Performance

Shares of APOG opened at $47.01 on Tuesday. The company has a 50 day moving average of $50.67 and a two-hundred day moving average of $66.58. The company has a quick ratio of 1.27, a current ratio of 1.63 and a debt-to-equity ratio of 0.52. Apogee Enterprises, Inc. has a twelve month low of $45.33 and a twelve month high of $87.93. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.49 and a beta of 1.04.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $332.27 million. During the same period in the previous year, the business earned $1.23 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts predict that Apogee Enterprises, Inc. will post 4.97 earnings per share for the current fiscal year.

Apogee Enterprises Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Tuesday, January 28th were given a $0.26 dividend. This is a positive change from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend was Tuesday, January 28th. Apogee Enterprises’s dividend payout ratio (DPR) is presently 23.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on APOG shares. Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th. DA Davidson lowered their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. Finally, StockNews.com cut Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 9th.

Apogee Enterprises 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).