Financial Gravity Asset Management Inc. Buys New Stake in Apogee Enterprises, Inc. (NASDAQ:APOG)

Financial Gravity Asset Management Inc. purchased a new position in Apogee Enterprises, Inc. (NASDAQ:APOG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,195 shares of the industrial products company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Apogee Enterprises by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 3,097,343 shares of the industrial products company’s stock worth $165,429,000 after purchasing an additional 53,484 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Apogee Enterprises by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 379,235 shares of the industrial products company’s stock worth $20,255,000 after acquiring an additional 9,092 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Apogee Enterprises by 1.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock worth $19,053,000 after acquiring an additional 3,881 shares during the last quarter. Norges Bank purchased a new stake in shares of Apogee Enterprises during the 4th quarter worth approximately $7,893,000. Finally, Panagora Asset Management Inc. boosted its position in shares of Apogee Enterprises by 4.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company’s stock valued at $8,582,000 after acquiring an additional 5,964 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on APOG shares. DA Davidson boosted their price target on shares of Apogee Enterprises from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. StockNews.com upgraded shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a report on Friday, July 26th.

Insider Activity at Apogee Enterprises

In other news, insider Brent C. Jewell sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total transaction of $321,700.00. Following the transaction, the insider now owns 23,405 shares of the company’s stock, valued at $1,505,877.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by insiders.

Apogee Enterprises Trading Down 1.5 %

Shares of APOG stock opened at $62.31 on Friday. The company has a market cap of $1.37 billion, a PE ratio of 12.79 and a beta of 0.98. Apogee Enterprises, Inc. has a 1 year low of $41.01 and a 1 year high of $70.64. The stock’s 50 day simple moving average is $63.60 and its two-hundred day simple moving average is $61.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.64 and a quick ratio of 1.29.

Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings results on Thursday, June 27th. The industrial products company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.28. The company had revenue of $331.50 million for the quarter, compared to analyst estimates of $333.22 million. Apogee Enterprises had a return on equity of 24.74% and a net margin of 7.72%. Apogee Enterprises’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. Research analysts predict that Apogee Enterprises, Inc. will post 4.86 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Wednesday, July 10th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.60%. Apogee Enterprises’s dividend payout ratio is presently 20.53%.

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).