Principal Financial Group Inc. Boosts Stock Holdings in Apogee Enterprises, Inc. (NASDAQ:APOG)

Principal Financial Group Inc. increased its holdings in Apogee Enterprises, Inc. (NASDAQ:APOG) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,770 shares of the industrial products company’s stock after purchasing an additional 4,373 shares during the period. Principal Financial Group Inc. owned approximately 0.54% of Apogee Enterprises worth $8,410,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Apogee Enterprises by 1.4% during the third quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock valued at $37,131,000 after buying an additional 7,382 shares during the period. FMR LLC increased its position in shares of Apogee Enterprises by 12.5% during the third quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock worth $7,330,000 after purchasing an additional 11,627 shares in the last quarter. Moran Wealth Management LLC grew its stake in shares of Apogee Enterprises by 0.3% during the third quarter. Moran Wealth Management LLC now owns 98,367 shares of the industrial products company’s stock worth $6,887,000 after acquiring an additional 304 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Apogee Enterprises during the 3rd quarter worth about $6,845,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Apogee Enterprises by 11.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 63,817 shares of the industrial products company’s stock worth $4,468,000 after buying an additional 6,793 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Apogee Enterprises Stock Performance

NASDAQ:APOG opened at $47.94 on Friday. Apogee Enterprises, Inc. has a 12 month low of $46.76 and a 12 month high of $87.93. The firm has a market capitalization of $1.05 billion, a PE ratio of 10.70 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.63 and a quick ratio of 1.27. The business’s fifty day moving average price is $56.04 and its 200 day moving average price is $67.91.

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

Apogee Enterprises Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Tuesday, January 28th were issued a $0.26 dividend. This is a boost from Apogee Enterprises’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Tuesday, January 28th. Apogee Enterprises’s dividend payout ratio (DPR) is currently 23.21%.

Analysts Set New Price Targets

APOG has been the topic of several analyst reports. DA Davidson dropped their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research 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 downgraded shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 9th. Finally, Singular Research upgraded shares of Apogee Enterprises to a “moderate buy” rating in a report on Tuesday, January 14th.

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).