Apogee Enterprises, Inc. (NASDAQ:APOG) was in 10 hedge funds’ portfolio at the end of the first quarter of 2013. APOG has seen a decrease in hedge fund sentiment of late. There were 13 hedge funds in our database with APOG holdings at the end of the previous quarter.
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Now, we’re going to take a look at the key action regarding Apogee Enterprises, Inc. (NASDAQ:APOG).
How have hedgies been trading Apogee Enterprises, Inc. (NASDAQ:APOG)?
At Q1’s end, a total of 10 of the hedge funds we track were long in this stock, a change of -23% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings considerably.
Of the funds we track, Chuck Royce’s Royce & Associates had the biggest position in Apogee Enterprises, Inc. (NASDAQ:APOG), worth close to $44.1 million, comprising 0.1% of its total 13F portfolio. Sitting at the No. 2 spot is AQR Capital Management, managed by Cliff Asness, which held a $8.7 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Jim Simons’s Renaissance Technologies, Richard Driehaus’s Driehaus Capital and D. E. Shaw’s D E Shaw.
Since Apogee Enterprises, Inc. (NASDAQ:APOG) has faced declining sentiment from the aggregate hedge fund industry, it’s easy to see that there exists a select few hedgies that slashed their entire stakes in Q1. Interestingly, Israel Englander’s Millennium Management dropped the largest investment of all the hedgies we key on, valued at close to $2 million in stock.. Neil Chriss’s fund, Hutchin Hill Capital, also sold off its stock, about $0.9 million worth. These bearish behaviors are interesting, as total hedge fund interest was cut by 3 funds in Q1.
What do corporate executives and insiders think about Apogee Enterprises, Inc. (NASDAQ:APOG)?
Bullish insider trading is best served when the company in question has experienced transactions within the past half-year. Over the last six-month time period, Apogee Enterprises, Inc. (NASDAQ:APOG) has experienced zero unique insiders purchasing, and 2 insider sales (see the details of insider trades here).
Let’s check out hedge fund and insider activity in other stocks similar to Apogee Enterprises, Inc. (NASDAQ:APOG). These stocks are AAON, Inc. (NASDAQ:AAON), Griffon Corporation (NYSE:GFF), Universal Forest Products, Inc. (NASDAQ:UFPI), Headwaters Inc (NYSE:HW), and Trex Company, Inc. (NYSE:TREX). This group of stocks belong to the general building materials industry and their market caps resemble APOG’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| AAON, Inc. (NASDAQ:AAON) | 10 | 0 | 3 |
| Griffon Corporation (NYSE:GFF) | 13 | 1 | 0 |
| Universal Forest Products, Inc. (NASDAQ:UFPI) | 5 | 0 | 4 |
| Headwaters Inc (NYSE:HW) | 20 | 0 | 2 |
| Trex Company, Inc. (NYSE:TREX) | 14 | 0 | 8 |
With the returns demonstrated by our tactics, retail investors should always keep an eye on hedge fund and insider trading sentiment, and Apogee Enterprises, Inc. (NASDAQ:APOG) applies perfectly to this mantra.
