Financial Gravity Asset Management Inc. Invests $75,000 in Apogee Enterprises, Inc. (NASDAQ:APOG)

Financial Gravity Asset Management Inc. bought a new stake in Apogee Enterprises, Inc. (NASDAQ:APOG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,195 shares of the industrial products company’s stock, valued at approximately $75,000.

Several other hedge funds also recently made changes to their positions in APOG. Acadian Asset Management LLC bought a new stake in Apogee Enterprises during the second quarter worth about $3,547,000. Gallacher Capital Management LLC purchased a new position in shares of Apogee Enterprises in the 2nd quarter worth about $219,000. Los Angeles Capital Management LLC grew its position in Apogee Enterprises by 12.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 31,639 shares of the industrial products company’s stock valued at $1,988,000 after purchasing an additional 3,506 shares during the last quarter. Horizon Investment Services LLC purchased a new position in Apogee Enterprises in the second quarter worth about $704,000. Finally, TD Asset Management Inc lifted its position in Apogee Enterprises by 6.2% in the 2nd quarter. TD Asset Management Inc now owns 32,500 shares of the industrial products company’s stock valued at $2,042,000 after acquiring an additional 1,900 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Insider Activity

In other Apogee Enterprises news, insider Brent C. Jewell sold 5,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.34, for a total value of $321,700.00. Following the completion of the sale, the insider now owns 23,405 shares in the company, valued at approximately $1,505,877.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Apogee Enterprises Price Performance

NASDAQ APOG opened at $62.31 on Friday. The business’s fifty day moving average is $63.60 and its 200 day moving average is $61.74. Apogee Enterprises, Inc. has a fifty-two week low of $41.01 and a fifty-two week high of $70.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.29 and a current ratio of 1.64. The company has a market capitalization of $1.37 billion, a PE ratio of 12.79 and a beta of 0.98.

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

Apogee Enterprises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Wednesday, July 10th were paid a $0.25 dividend. 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 (DPR) is presently 20.53%.

Analysts Set New Price Targets

A number of equities research analysts have commented on APOG shares. DA Davidson lifted their target price 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 research note on Friday, July 26th.

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).