Bank of New York Mellon Corp Has $17.77 Million Stock Position in Apogee Enterprises, Inc. (NASDAQ:APOG)

Bank of New York Mellon Corp decreased its stake in Apogee Enterprises, Inc. (NASDAQ:APOG) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,901 shares of the industrial products company’s stock after selling 32,236 shares during the period. Bank of New York Mellon Corp owned approximately 1.13% of Apogee Enterprises worth $17,774,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of APOG. Endeavor Private Wealth Inc. bought a new position in Apogee Enterprises in the fourth quarter worth $32,000. Gladius Capital Management LP bought a new position in Apogee Enterprises in the third quarter worth $33,000. Harvest Fund Management Co. Ltd bought a new position in Apogee Enterprises in the third quarter worth $58,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Apogee Enterprises by 44.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,293 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 396 shares during the period. Finally, KBC Group NV raised its holdings in shares of Apogee Enterprises by 46.7% in the fourth quarter. KBC Group NV now owns 1,282 shares of the industrial products company’s stock valued at $92,000 after buying an additional 408 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Price Performance

Shares of APOG stock opened at $47.32 on Wednesday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 10.56 and a beta of 1.04. Apogee Enterprises, Inc. has a 12 month low of $45.33 and a 12 month high of $87.93. The stock has a 50-day moving average price of $52.60 and a 200 day moving average price of $67.12. 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 (NASDAQ:APOG) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $341.30 million during the quarter, compared to analyst estimates of $332.27 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. Research analysts expect that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were given a dividend of $0.26 per share. 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 2.20%. The ex-dividend date was Tuesday, January 28th. Apogee Enterprises’s payout ratio is presently 23.21%.

Analyst Upgrades and Downgrades

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

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).