PNC Financial Services Group Inc. Buys 481 Shares of Apogee Enterprises Inc (APOG)

PNC Financial Services Group Inc. raised its stake in Apogee Enterprises Inc (NASDAQ:APOG) by 105.5% during the first quarter, Holdings Channel reports. The fund owned 937 shares of the industrial products company’s stock after buying an additional 481 shares during the period. PNC Financial Services Group Inc.’s holdings in Apogee Enterprises were worth $35,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in Apogee Enterprises by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 422,392 shares of the industrial products company’s stock valued at $17,453,000 after purchasing an additional 11,810 shares during the last quarter. Man Group plc raised its stake in shares of Apogee Enterprises by 179.8% in the third quarter. Man Group plc now owns 39,317 shares of the industrial products company’s stock worth $1,625,000 after acquiring an additional 25,265 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Apogee Enterprises by 36.9% in the third quarter. MetLife Investment Advisors LLC now owns 18,734 shares of the industrial products company’s stock worth $774,000 after acquiring an additional 5,050 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Apogee Enterprises by 11.7% in the third quarter. TIAA CREF Investment Management LLC now owns 69,306 shares of the industrial products company’s stock worth $2,864,000 after acquiring an additional 7,253 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Apogee Enterprises by 7.5% in the third quarter. Legal & General Group Plc now owns 65,627 shares of the industrial products company’s stock worth $2,709,000 after acquiring an additional 4,600 shares during the last quarter. 98.71% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Jerome L. Davis sold 9,276 shares of Apogee Enterprises stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $37.63, for a total transaction of $349,055.88. Following the completion of the sale, the director now owns 17,251 shares in the company, valued at approximately $649,155.13. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sara L. Hays sold 1,985 shares of Apogee Enterprises stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $39.14, for a total transaction of $77,692.90. The disclosure for this sale can be found here. 2.90% of the stock is owned by insiders.

Shares of NASDAQ APOG opened at $39.77 on Friday. Apogee Enterprises Inc has a 1-year low of $26.38 and a 1-year high of $50.87. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.29 and a beta of 1.62. The company has a quick ratio of 1.29, a current ratio of 1.63 and a debt-to-equity ratio of 0.50.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Thursday, April 11th. The industrial products company reported $0.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.06). Apogee Enterprises had a return on equity of 16.14% and a net margin of 3.26%. The company had revenue of $346.26 million during the quarter, compared to the consensus estimate of $357.18 million. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, equities research analysts anticipate that Apogee Enterprises Inc will post 3.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 16th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Wednesday, May 15th. Apogee Enterprises’s dividend payout ratio is 23.65%.

A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 19th. DA Davidson boosted their target price on shares of Apogee Enterprises to $35.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. ValuEngine raised shares of Apogee Enterprises from a “strong sell” rating to a “sell” rating in a research note on Friday, February 8th. Finally, Sidoti downgraded shares of Apogee Enterprises from a “buy” rating to a “neutral” rating in a research note on Monday, February 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $45.25.

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About Apogee Enterprises

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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Institutional Ownership by Quarter for Apogee Enterprises (NASDAQ:APOG)

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