Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week High – Time to Buy?

Apogee Enterprises, Inc. (NASDAQ:APOG)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $87.50 and last traded at $86.58, with a volume of 11581 shares changing hands. The stock had previously closed at $86.03.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. DA Davidson raised their price objective on shares of Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. StockNews.com raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 15th.

Apogee Enterprises Stock Performance

The company has a current ratio of 1.65, a quick ratio of 1.32 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $73.44 and its two-hundred day moving average price is $67.12. The firm has a market capitalization of $1.87 billion, a PE ratio of 17.95 and a beta of 0.97.

Apogee Enterprises (NASDAQ:APOG) last released its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.23 by $0.21. The firm had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. Apogee Enterprises’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.36 EPS. On average, equities analysts expect that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current year.

Apogee Enterprises Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a yield of 1.17%. Apogee Enterprises’s payout ratio is currently 21.05%.

Institutional Trading of Apogee Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Apogee Enterprises in the 3rd quarter worth approximately $33,000. GAMMA Investing LLC grew its stake in Apogee Enterprises by 43.2% in the 3rd quarter. GAMMA Investing LLC now owns 540 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 163 shares during the period. Quarry LP boosted its holdings in shares of Apogee Enterprises by 959.4% in the 2nd quarter. Quarry LP now owns 731 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 662 shares during the last quarter. Headlands Technologies LLC boosted its holdings in shares of Apogee Enterprises by 340.8% in the 1st quarter. Headlands Technologies LLC now owns 767 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its holdings in shares of Apogee Enterprises by 31.4% in the 1st quarter. EntryPoint Capital LLC now owns 929 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 222 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Apogee Enterprises Company 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).