Apogee Enterprises (NASDAQ:APOG) Sets New 52-Week High Following Better-Than-Expected Earnings

Apogee Enterprises, Inc. (NASDAQ:APOG) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $62.99 and last traded at $61.47, with a volume of 57760 shares trading hands. The stock had previously closed at $55.92.

The industrial products company reported $1.14 EPS for the quarter, beating the consensus estimate of $0.97 by $0.17. Apogee Enterprises had a net margin of 7.44% and a return on equity of 23.47%. The business had revenue of $361.80 million during the quarter, compared to analysts’ expectations of $337.84 million. During the same period in the previous year, the business posted $0.86 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year.

Hedge Funds Weigh In On Apogee Enterprises

Several large investors have recently made changes to their positions in APOG. Victory Capital Management Inc. acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at $48,063,000. Norges Bank purchased a new stake in shares of Apogee Enterprises during the fourth quarter worth $13,539,000. Envestnet Asset Management Inc. grew its holdings in shares of Apogee Enterprises by 2,523.4% during the first quarter. Envestnet Asset Management Inc. now owns 258,853 shares of the industrial products company’s stock worth $328,000 after buying an additional 248,986 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Apogee Enterprises by 69.8% during the fourth quarter. Pacer Advisors Inc. now owns 537,470 shares of the industrial products company’s stock worth $28,706,000 after buying an additional 220,898 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Apogee Enterprises by 175.5% during the fourth quarter. Millennium Management LLC now owns 322,360 shares of the industrial products company’s stock worth $14,332,000 after buying an additional 205,330 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Apogee Enterprises Price Performance

The firm has a market cap of $1.28 billion, a PE ratio of 12.30 and a beta of 1.10. The stock’s fifty day moving average price is $57.19 and its 200-day moving average price is $51.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.57 and a quick ratio of 1.28.

Apogee Enterprises Company Profile

Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. The company operates in four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and installs custom glass and aluminum windows, curtainwalls, storefront, and entrance systems for the exterior of buildings primarily in the commercial, institutional, and multi-family residential construction sectors.