Short Interest in Apogee Enterprises, Inc. Sees 9.1% Rise in November

Apogee Enterprises, Inc. (NASDAQ:APOG) recently experienced a notable increase in short interest during November. As of November 30, the total short interest reached 867,600 shares, reflecting an increase of 9.1% from the 795,500 shares reported on November 15. Given the average daily trading volume of 157,500 shares, the days-to-cover ratio stands at 5.5 days. Currently, approximately 4.0% of the company's shares are sold short.

Institutional Trading Activity

Several large investors have made significant movements with their shares in Apogee Enterprises. Acadian Asset Management LLC initiated a new position in Apogee in the second quarter, investing $3,547,000. Renaissance Technologies LLC notably increased its holdings by 1,004.1% in the same quarter, now owning 72,683 shares worth $4,567,000 after purchasing an additional 66,100 shares. Furthermore, Farther Finance Advisors LLC saw an impressive increase of 2,602.0% in its position during the third quarter, now owning 1,351 shares valued at $95,000. Kingsview Wealth Management LLC acquired a new stake worth approximately $2,134,000 in the third quarter, while Quest Partners LLC raised its stake by 115,311.1% in the second quarter, owning 10,387 shares valued at $653,000 after acquiring 10,378 additional shares. Overall, about 94.05% of Apogee's stock is owned by hedge funds and other institutional investors.

Analyst Opinions on Apogee Enterprises

Apogee has been the subject of multiple evaluations from research analysts. DA Davidson recently raised its price target on Apogee shares from $65.00 to $75.00 and assigned a neutral rating in a report published on October 8. Meanwhile, StockNews.com upgraded Apogee from a buy rating to a strong-buy rating as of December 9.

Stock Price Performance

On Friday, Apogee shares fell by $1.74, ending the day at $76.80. The trading volume reached 145,012 shares, slightly below the average volume of 147,178. Apogee Enterprises holds a 50-day moving average of $80.39 and a 200-day moving average of $69.86, with a 52-week low of $50.03 and a high of $87.93. The company's market capitalization stands at $1.69 billion, and it has a price-to-earnings ratio of 16.17, with a beta of 0.99. Other key financial metrics include a current ratio of 1.65, a quick ratio of 1.32, and a debt-to-equity ratio of 0.12.

Recent Dividend Announcement

Apogee Enterprises also disclosed a quarterly dividend recently, which was disbursed on November 6. Shareholders who were on record as of October 22 received a dividend of $0.25 per share, translating to an annualized total of $1.00 and a yield of 1.30%. The ex-dividend date was on October 22. The company's payout ratio stands at 21.05%.

Company Overview

Apogee Enterprises, Inc. is engaged in providing architectural products and services aimed at building enclosures, alongside glass and acrylic products tailored for preservation, protection, and enhanced viewing. The business operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical (LSO).

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