Dimensional Fund Advisors Cuts Apogee Stake to 9.2%

TL;DR

**Dimensional Fund Advisors just trimmed its Apogee stake to 9.2%, down from 10.2%.**

AI Summary

Dimensional Fund Advisors LP, a major investment firm, filed an amended Schedule 13G/A on February 9, 2024, indicating a change in their ownership of Apogee Enterprises Inc. As of December 29, 2023, Dimensional Fund Advisors LP reported beneficial ownership of 2,056,586 shares of Apogee's Common Stock, representing 9.2% of the company. This is a decrease from their previous filing, where they reported owning 2,300,000 shares (10.2%). This matters to investors because a significant institutional investor has reduced its stake, which could signal a shift in their outlook on Apogee's future performance.

Why It Matters

A large institutional investor reducing its stake in Apogee Enterprises Inc. could be interpreted as a loss of confidence, potentially influencing other investors' decisions and the stock's price.

Risk Assessment

Risk Level: medium — A notable reduction in ownership by a major institutional investor like Dimensional Fund Advisors could indicate potential concerns about the company's future, posing a moderate risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind Dimensional Fund Advisors LP's reduction in stake, potentially looking into Apogee Enterprises Inc.'s recent financial performance or industry outlook, before making any investment decisions.

Key Numbers

• 2,056,586 — Shares Beneficially Owned (This is the total number of Apogee Enterprises Inc. common stock shares Dimensional Fund Advisors LP reported owning as of December 29, 2023.)
• 9.2% — Percentage of Class (This represents the percentage of Apogee Enterprises Inc.'s common stock that Dimensional Fund Advisors LP beneficially owns, indicating a decrease from their previous holding.)
• 037598109 — CUSIP Number (This is the unique identification number for Apogee Enterprises Inc.'s Common Stock, ensuring the correct security is identified.)
• February 9, 2024 — Filing Date (This is the date the amended SC 13G/A was filed, providing the most recent public disclosure of Dimensional Fund Advisors LP's stake.)
• December 29, 2023 — Event Date (This is the specific date when the ownership change occurred that triggered the requirement for this filing.)

Key Players & Entities

• Dimensional Fund Advisors LP (company) — the reporting person who filed the SC 13G/A
• Apogee Enterprises Inc (company) — the issuer whose securities are being reported
• 2,056,586 (dollar_amount) — number of shares beneficially owned by Dimensional Fund Advisors LP as of December 29, 2023
• 9.2% (dollar_amount) — percentage of Apogee Enterprises Inc. common stock beneficially owned by Dimensional Fund Advisors LP
• December 29, 2023 (date) — the date of the event which required the filing of this statement

Forward-Looking Statements

• Apogee Enterprises Inc. stock price may experience short-term downward pressure due to the institutional selling. (Apogee Enterprises Inc.) — medium confidence, target: Q1 2024
• Other institutional investors might re-evaluate their positions in Apogee Enterprises Inc. following Dimensional Fund Advisors' reduction. (Institutional Investors) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G/A) — 17KB
• 0000354204-24-003107.txt ( ) — 19KB

From the Filing

SC 13G/A 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 5 ) * Apogee Enterprises Inc (Name of Issuer) Common Stock (Title of Class of Securities) 037598109 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 037598109 1. NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Dimensional Fund Advisors LP 30-0447847 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 1,273,060 ** see Note 1 ** 6. SHARED VOTING POWER 0 7. SOLE DISPOSITIVE POWER 1,299,136 ** see Note 1 ** 8. SHARED DISPOSITIVE POWER 0 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,299,136 ** see Note 1 ** 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.9% 12. TYPE OF REPORTING PERSON IA Item 1. (a) Name of Issuer Apogee Enterprises Inc (b) Address of Issuer's Principal Executive Offices 4400 West 78th Street, Suite 520, Minneapolis, MN 55435 Item 2. (a) Name of Person Filing Dimensional Fund Advisors LP (b) Address of Principal Business Office or, if None, Residence 6300 Bee Cave Road, Building One, Austin, TX 78746 (c) Citizenship Delaware Limited Partnership (d) Title of Class of Securities Common Stock (e) CUSIP Number 037598109 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [X] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(J). Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 1,299,136 ** see Note 1 ** (b) Percent of Class: 5.9% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 1,273,060 ** see Note 1 ** (ii) shared power to vote or to direct the vote 0 (iii) sole power to dispose or to direct the disposition of 1,299,136 ** see Note 1 ** (iv) shared power to dispose or to direct the disposition of 0 ** Note 1 ** Dimensional Fund Advisors LP, an investment adviser registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment companies, trusts and accounts, collectively referred to as the "Funds"). In certain cases, subsidiaries of Dimensional Fund Advisors LP may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional Fund Advisors LP or its subsidiaries (collectively, "Dimensional") may possess voting and/or investment power over the securities of the Issuer that are owned by the Funds, and may be deemed t

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