In a recent transaction, Ty R. Silberhorn, the Chief Executive Officer and President of Apogee (NASDAQ:APOG) Enterprises, Inc. (NASDAQ:APOG), sold 10,679 shares of the company's common stock. The sale was executed on May 2, 2024, with the total value of the transaction amounting to approximately $673,844. Investors tracking insider activity may note that the shares were sold at a weighted average price of $63.10, with individual sale prices ranging from $62.82 to $63.38.
Following the sale, Silberhorn's direct holdings in the company stand at 110,806 shares. This figure includes shares allocated under the Employee Stock Purchase Plan as of May 1, 2024, as well as shares of restricted stock granted under the 2019 Stock Incentive Plan.
In addition to the sale, the Form 4 filing also reported a gifting transaction, where Silberhorn gifted 3,969 shares of Apogee Enterprises stock to a charitable donor-advised fund. This transaction, which is categorized differently than a sale, was recorded at a value of $0 as it reflects a gift rather than a market transaction.
Apogee Enterprises, Inc., headquartered in Minneapolis, Minnesota, specializes in the manufacturing of glass products. The company's activities are significant for investors who follow the glass industry and insider trading patterns.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, dated May 6, 2024, and signed by Meghan M. Elliott, Attorney-in-Fact for Ty R. Silberhorn.
InvestingPro Insights
Amidst the insider trading activity at Apogee Enterprises, Inc. (NASDAQ:APOG), the company's financial metrics and market performance provide additional context for investors. As of the last twelve months ending Q4 2024, Apogee boasts a market capitalization of $1.43 billion, reflecting its standing in the glass manufacturing industry. Its Price/Earnings (P/E) ratio stands at a reasonable 14.25, indicating that the company's stock price is well-aligned with its earnings. This is further substantiated by a consistent P/E ratio over the same period.
Investors may find encouragement in Apogee's shareholder value strategies. One of the highlighted InvestingPro Tips is the company's high shareholder yield, which is supported by a dividend yield of 1.57% as of the latest data. This is particularly noteworthy as Apogee has raised its dividend for 12 consecutive years and maintained dividend payments for an impressive 51 consecutive years. Such a track record suggests a reliable income stream for dividend investors.
The company's stock performance has also been strong, with a one-year total return of 61.99%, nearly reaching its 52-week high price at 99.36% of that peak. This robust performance is an encouraging signal for potential investors, as highlighted by another InvestingPro Tip pointing out Apogee's strong return over the last three months, with a total return of 19.64% in that period.
For those looking to delve deeper into Apogee Enterprises' financial health and stock performance, additional InvestingPro Tips are available, offering insights such as the company's liquidity position and debt management. Interested readers can access more of these tips by visiting InvestingPro. Plus, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a full suite of investment tools and data.
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