Comerica Bank Sells 746 Shares of Apogee Enterprises, Inc. (NASDAQ:APOG)

Comerica Bank cut its stake in shares of Apogee Enterprises, Inc. (NASDAQ:APOG) by 5.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,430 shares of the industrial products company’s stock after selling 746 shares during the period. Comerica Bank’s holdings in Apogee Enterprises were worth $888,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Endeavor Private Wealth Inc. bought a new stake in Apogee Enterprises during the 4th quarter worth approximately $32,000. New Age Alpha Advisors LLC purchased a new position in shares of Apogee Enterprises during the 4th quarter valued at $40,000. Meeder Asset Management Inc. bought a new position in shares of Apogee Enterprises in the fourth quarter worth $57,000. KBC Group NV raised its position 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 worth $92,000 after buying an additional 408 shares in the last quarter. Finally, Vestcor Inc bought a new stake in Apogee Enterprises during the fourth quarter valued at $106,000. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on APOG shares. StockNews.com lowered Apogee Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, April 25th. Singular Research raised shares of Apogee Enterprises to a “moderate buy” rating in a research note on Tuesday, January 14th.

Apogee Enterprises Stock Down 0.4%

Shares of NASDAQ:APOG opened at $42.20 on Wednesday. The firm has a market capitalization of $903.88 million, a PE ratio of 9.42 and a beta of 0.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63. Apogee Enterprises, Inc. has a 52-week low of $38.45 and a 52-week high of $87.93. The firm has a fifty day moving average of $44.76 and a 200 day moving average of $58.70.

Apogee Enterprises (NASDAQ:APOG) last posted its quarterly earnings data on Thursday, April 24th. The industrial products company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.01). The firm had revenue of $345.69 million during the quarter, compared to analysts’ expectations of $331.82 million. Apogee Enterprises had a return on equity of 23.14% and a net margin of 7.14%. Apogee Enterprises’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, research analysts anticipate that Apogee Enterprises, Inc. will post 4.97 EPS for the current fiscal year.

Apogee Enterprises Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Tuesday, May 13th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.46%. Apogee Enterprises’s dividend payout ratio (DPR) is 26.80%.

About Apogee Enterprises

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).