Apogee Enterprises (NASDAQ: APOG-Get Rating), an information technology business, released its report on its performance on Tuesday. According to Briefing.com, companies in the industrial goods sector reported earnings per share (EPS) of $1.06 for the quarter, which is $0.23 higher than the earnings per share projection distributed by industry experts, which was $0.83. Apogee Enterprises had a productive performance, as seen by their respectable net margin of 1.15% and return on equity of 17.91%, respectively. The company reported a total of $372.10 million in revenue for the quarter, significantly higher than the average projection of $342.84 million in sales for the period. Compared to the prior year’s results for the same quarter, the company’s earnings per share came in at $0.53. Compared to the same period the previous year, the rise in income was 14.2% higher.
Apogee Enterprises has updated both its prognostication for the fiscal year 2023 and its profit projection for the fiscal year 2023 to a range that falls between $3.75 and $4.05 per share.
In addition, the business had already declared a quarterly dividend, which was paid out on the 27th of this month. The dividend has been distributed. On July 12, a dividend of $0.22 was paid out to stockholders who were recorded as having an ownership stake. On July 11, the dividend check was sent out to the company’s stockholders. This results in an annual dividend distribution of $0.88 and a yield on the investment of 2.212%. It has been determined that Apogee Enterprises has a payout ratio of 127.54%. NASDAQ APOG began trading on Wednesday at $41.42.
The stock has a price-to-earnings ratio of 60.03 and a beta of 1.07, so analysts believe it is currently worth around $917.74 million. Over the past year, the price of a share of Apogee Enterprises has ranged from a record low of $33.88 to an all-time high of $50.44. There is $0.80 in assets for every dollar of shareholder equity, a current ratio of $1.79, and a quick ratio of $1.32. The stock now has a moving average of $41.31 for the past 50 days, and its moving average for the past 200 days is $42.74, respectively. Several industry analysts have recently offered their insights regarding the company in question. In a research report published by StockNews.com on September 14, Apogee Enterprises was rated “strong-buy,” indicating that investors should consider purchasing the company’s stock. Previously, the company had been granted a “buy” rating by the investment community. In addition, the grade for Apogee Enterprises was raised by TheStreet from its previous categorization of “c+” to “b-,” which was announced in a study made available to the public on Thursday, June 23.
Finally, on June 24, Craig Hallum published a study in which they revised their price objective for Apogee Enterprises, bringing it down from $47.00 to $43.00 while maintaining their “hold” rating for the firm.
A further recent event involving Apogee Enterprises was the sale of 2,187 shares of the company’s stock on July 27 by SVP Gary Robert Johnson. This sale was one of several recent events. The total value of the sold shares was eighty-seven thousand, four hundred and eighty dollars, with each share selling for an average of forty dollars. The senior vice president now owns 36,600 shares of firm stock, which have a combined value of $1,464,000 as a direct result of the transaction that took place earlier. You will be able to get additional information regarding the transaction if you click on the link that has been provided to you. This link will take you to an official document presented to the Securities and Exchange Commission. Finally, on July 11, an insider at Apogee Enterprises named Brent C. Jewell sold 1,313 shares of the company’s stock in other
developments. The stock sale resulted in total revenue of $49,736.44, with the average price at which each share could be purchased being $37.88. Following the transaction, the business insider now owns 23,111 shares of the corporation, which have an estimated $875,444.68. You will be able to get additional information regarding the transaction if you click on the link that has been provided to you. This link will take you to an official document presented to the Securities and Exchange Commission.
Additionally, on Wednesday, July 27, Senior Vice President of Business Operations Gary Robert Johnson sold 2,187 shares of company stock. A total of eighty-seven thousand, four hundred and eighty dollars’ worth of stock was sold at an average price of forty dollars per share, bringing in eighty-seven thousand dollars. Because of the transaction, the company’s senior vice president now directly owns 36,600 shares of the company’s stock. The total value of these shares is around $1,464,000. Disclosures that are related to the sale might be found in this section of the website. There is currently 1.82% of the business’s stock is owned by company insiders.
Hedge funds have, in recent times, modified the interests that they have in the companies that hedge funds hold. Stonebridge Capital Advisors LLC paid close to $47,000 over the first three months of 2018 to purchase a greater ownership share in Apogee Enterprises. During the first three months of 2018, Point72 Hong Kong Ltd. raised the proportion of Apogee Enterprises in which it was a shareholder by 35.1%. After acquiring an extra 338 shares during the most recent quarter, Point72 Hong Kong Ltd now has 1,300 stocks in the industrial goods firm. The price of the shares is determined to be $62,000. Point72 Hong Kong Ltd. Captrust Financial Advisors’ position in Apogee Enterprises increased by 79.2% during the first three months due to the company’s investments. In the most recent fiscal quarter, Captrust Financial Advisors purchased an additional 924 shares in the industrial products business. As a result, the firm now owns 2,090 shares of the company’s stock, which has a value of $99,000. During the second quarter, Apogee Enterprises received an additional investment of $337,000 from Renaissance Technologies LLC.
This investment came from Renaissance Technologies, LLC. And finally, during the second quarter, Envestnet Asset Management Inc. increased its investment in Apogee Enterprises by 10.3% by purchasing additional shares. Envestnet Asset Management Inc. now owns a total of 9,561 shares of the stock held by the industrial products firm. This comes from the company’s acquisition of 892 additional shares during the most recent fiscal quarter. Institutional investors and hedge funds own 89.59% of the company’s shares, making them the majority of shareholders.