Norges Bank Makes New $5.70 Million Investment in Apogee Enterprises, Inc. (NASDAQ:APOG)

Norges Bank acquired a new position in Apogee Enterprises, Inc. (NASDAQ:APOG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 79,793 shares of the industrial products company’s stock, valued at approximately $5,698,000.

Several other large investors have also modified their holdings of APOG. FMR LLC raised its stake in Apogee Enterprises by 12.5% during the 3rd quarter. FMR LLC now owns 104,690 shares of the industrial products company’s stock valued at $7,330,000 after purchasing an additional 11,627 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Apogee Enterprises during the third quarter valued at approximately $245,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Apogee Enterprises in the 3rd quarter valued at $275,000. Barclays PLC raised its position in Apogee Enterprises by 77.8% in the third quarter. Barclays PLC now owns 63,769 shares of the industrial products company’s stock worth $4,466,000 after purchasing an additional 27,904 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Apogee Enterprises by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 530,226 shares of the industrial products company’s stock worth $37,131,000 after buying an additional 7,382 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Sidoti raised shares of Apogee Enterprises from a “neutral” rating to a “buy” rating in a report on Friday, January 10th. DA Davidson reduced their price target on shares of Apogee Enterprises from $75.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Singular Research upgraded Apogee Enterprises to a “moderate buy” rating in a research report on Tuesday, January 14th. Finally, StockNews.com cut shares of Apogee Enterprises from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 9th.

Apogee Enterprises Trading Up 7.6 %

APOG opened at $46.81 on Thursday. The firm has a market cap of $1.03 billion, a PE ratio of 10.45 and a beta of 0.85. Apogee Enterprises, Inc. has a twelve month low of $42.33 and a twelve month high of $87.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.27 and a current ratio of 1.63. The firm’s fifty day moving average is $47.80 and its two-hundred day moving average is $64.08.

Apogee Enterprises (NASDAQ:APOG) last posted its earnings results on Tuesday, January 7th. The industrial products company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $341.30 million during the quarter, compared to analysts’ expectations of $332.27 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 up .5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 EPS. Equities research analysts anticipate that Apogee Enterprises, Inc. will post 4.97 EPS for the current year.

Apogee Enterprises 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).