Apogee Enterprises Sees 9.1% Spike in Short Interest

Apogee Enterprises, Inc. (NASDAQ:APOG) experienced a notable increase in short interest throughout November. By the end of the month, on November 30th, the short interest reached 867,600 shares, marking a rise of 9.1% compared to the total of 795,500 shares recorded on November 15th. With an average trading volume of 157,500 shares, the current days-to-cover ratio stands at 5.5 days. This reflects that approximately 4.0% of the company's shares are currently sold short.

Institutional Trading of Apogee Enterprises

Recently, several large investors have made significant changes to their holdings in Apogee Enterprises. For instance, Acadian Asset Management LLC acquired a new position in Apogee during the second quarter, investing about $3,547,000. Renaissance Technologies LLC drastically increased its holdings by 1,004.1% within the same quarter, now owning 72,683 shares valued at $4,567,000 after adding 66,100 shares.

Farther Finance Advisors LLC also expanded its stake by 2,602.0% in the third quarter, acquiring 1,351 shares worth $95,000, which included an additional 1,301 shares purchased during the last quarter. Kingsview Wealth Management LLC invested approximately $2,134,000 into the company in the third quarter.

Additionally, Quest Partners LLC raised its stake significantly by 115,311.1% during the second quarter, now owning 10,387 shares valued at $653,000. Overall, institutional investors and hedge funds control about 94.05% of Apogee's stock.

Wall Street Analyst Opinions

Apogee Enterprises has garnered attention from various research analysts. DA Davidson recently raised its price target on the company's shares from $65.00 to $75.00 while maintaining a "neutral" rating as of October 8th. StockNews.com upgraded the stock from a "buy" rating to a "strong-buy" rating on December 9th.

Apogee Enterprises Performance Overview

On its latest trading day, Apogee saw a decline of $1.74, bringing its share price to $76.80 with a trading volume of 145,012 shares compared to the average of 147,178 shares. The company's stock has a 50-day moving average of $80.39 and a 200-day moving average of $69.86. Over the past 52 weeks, Apogee's share price has fluctuated between a low of $50.03 and a high of $87.93.

As of now, Apogee Enterprises boasts a market capitalization of $1.69 billion and a price-to-earnings ratio of 16.17. Its current ratio is 1.65, with a quick ratio of 1.32 and a debt-to-equity ratio of 0.12.

In its most recent earnings report on October 4th, Apogee Enterprises announced earnings per share (EPS) of $1.44, surpassing the consensus estimate of $1.23 by $0.21. The company's net margin stands at 7.58%, with a return on equity of 24.12%. Revenue for the quarter was reported at $342.40 million, beating expectations of $335.31 million, although this reflects a 3.2% decrease from the same quarter last year. Analysts predict that Apogee will report an EPS of 5.06 for the current fiscal year.

Dividend Announcement by Apogee Enterprises

Apogee Enterprises has also declared a quarterly dividend, which was disbursed on November 6th. Shareholders who were on record as of October 22nd received a dividend of $0.25. This dividend amounts to an annualized payout of $1.00, yielding approximately 1.30%. The ex-dividend date was set for October 22nd, with the company's payout ratio at 21.05%.

About Apogee Enterprises

Apogee Enterprises, Inc. focuses on providing a range of architectural products and services used in building enclosures. It also specializes in glass and acrylic products for preservation, protection, and enhanced viewing. The company operates across four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

Apogee, stocks, shortinterest