Apogee Enterprises, Inc. (NASDAQ:APOG) Sees 9.1% Increase in Short Interest in November

Apogee Enterprises, Inc. (NASDAQ:APOG) experienced a notable rise in short interest throughout November. By November 30th, total short interest reached 867,600 shares, marking a 9.1% increase from 795,500 shares recorded on November 15th. Given the average daily trading volume of 157,500 shares, this translates to a short-interest ratio of 5.5 days, indicating that around 4.0% of the company's shares are currently sold short.

Institutional Investment in Apogee Enterprises

Several major investors have recently adjusted their holdings in Apogee Enterprises. Notably, Acadian Asset Management LLC acquired a new stake worth $3,547,000 in the second quarter. Renaissance Technologies LLC significantly increased its position by 1,004.1% in the same quarter, now holding 72,683 shares valued at $4,567,000 after purchasing an additional 66,100 shares. Additionally, Farther Finance Advisors LLC expanded its investment by 2,602.0% during the third quarter, acquiring 1,351 shares valued at $95,000. Kingsview Wealth Management LLC also purchased new shares in the third quarter amounting to approximately $2,134,000. Furthermore, Quest Partners LLC raised its stake by a staggering 115,311.1% during the second quarter, owning 10,387 shares valued at $653,000 after an increase of 10,378 shares. It’s noteworthy that hedge funds and institutional investors collectively control 94.05% of Apogee Enterprises' stock.

Market Analysts' Insights

The stock has been under review by various analysts recently. DA Davidson raised its price target on Apogee Enterprises from $65.00 to $75.00, assigning a "neutral" rating in a report published on October 8th. StockNews.com upgraded the stock's rating from "buy" to "strong-buy" in a report released on December 9th.

Performance of Apogee Enterprises Stock

On the trading day of Friday, the stock was down by $1.74, closing at $76.80, with a trading volume of 145,012 shares, compared to its average of 147,178. The stock has a 50-day moving average of $80.39 and a 200-day moving average of $69.86. Over the past year, Apogee Enterprises has seen a low of $50.03 and a high of $87.93. The company boasts a market capitalization of $1.69 billion, a price-to-earnings ratio of 16.17, and a beta of 0.99. Financially, Apogee has a current ratio of 1.65, a quick ratio of 1.32, and a low debt-to-equity ratio of 0.12.

Recent quarterly earnings results were announced on October 4th, where Apogee reported earnings of $1.44 per share, exceeding the consensus estimate of $1.23 by $0.21. With a net margin of 7.58% and a return on equity of 24.12%, revenues reached $342.40 million, surpassing expectations of $335.31 million, although this reflected a 3.2% decrease year-over-year. Overall, analysts predict that Apogee Enterprises will report an EPS of 5.06 for the current fiscal year.

Dividend Information from Apogee Enterprises

Apogee Enterprises recently declared a quarterly dividend of $0.25, which was paid on November 6th to shareholders on record as of October 22nd. This translates to an annual dividend of $1.00, offering a yield of 1.30%. The ex-dividend date was noted as October 22nd, and the company has a payout ratio of 21.05%.

Overview of Apogee Enterprises

Apogee Enterprises, Inc. specializes in providing architectural products and services for building enclosures. The company also produces glass and acrylic products aimed at preservation and enhanced viewing. Operatively, Apogee is divided into four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

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