Kornitzer Capital Management Inc. KS Decreases Holdings in Apogee Enterprises, Inc. (NASDAQ:APOG)

Kornitzer Capital Management Inc. KS lowered its holdings in Apogee Enterprises, Inc. (NASDAQ:APOG) by 37.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 18,500 shares of the industrial products company’s stock after selling 10,900 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Apogee Enterprises were worth $1,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in APOG. Pacer Advisors Inc. boosted its holdings in Apogee Enterprises by 15.5% in the second quarter. Pacer Advisors Inc. now owns 917,000 shares of the industrial products company’s stock valued at $57,620,000 after purchasing an additional 122,811 shares in the last quarter. American Century Companies Inc. grew its position in shares of Apogee Enterprises by 23.2% in the 2nd quarter. American Century Companies Inc. now owns 528,769 shares of the industrial products company’s stock valued at $33,225,000 after buying an additional 99,495 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Apogee Enterprises by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 303,220 shares of the industrial products company’s stock worth $19,053,000 after acquiring an additional 3,881 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Apogee Enterprises by 70.8% in the third quarter. Assenagon Asset Management S.A. now owns 162,379 shares of the industrial products company’s stock valued at $11,369,000 after acquiring an additional 67,295 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in Apogee Enterprises by 4.6% in the second quarter. Panagora Asset Management Inc. now owns 136,578 shares of the industrial products company’s stock valued at $8,582,000 after acquiring an additional 5,964 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Apogee Enterprises Stock Up 2.8 %

APOG stock opened at $86.03 on Friday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 18.11 and a beta of 0.97. The company has a fifty day moving average price of $72.61 and a 200 day moving average price of $66.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.65 and a quick ratio of 1.32. Apogee Enterprises, Inc. has a 12 month low of $43.56 and a 12 month high of $86.22.

Apogee Enterprises (NASDAQ:APOG) last announced its earnings results on Friday, October 4th. The industrial products company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Apogee Enterprises had a net margin of 7.58% and a return on equity of 24.12%. The business had revenue of $342.40 million during the quarter, compared to analysts’ expectations of $335.31 million. During the same period in the prior year, the company earned $1.36 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Apogee Enterprises, Inc. will post 5.06 earnings per share for the current year.

Apogee Enterprises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Tuesday, October 22nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.00 annualized dividend and a dividend yield of 1.16%. Apogee Enterprises’s dividend payout ratio (DPR) is currently 21.05%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on APOG shares. StockNews.com upgraded Apogee Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 15th. DA Davidson lifted their price target on Apogee Enterprises from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th.

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).