Barrow Hanley Discloses 5.9% Stake in Apogee Enterprises
Ticker: APOG · Form: SC 13G · Filed: Feb 13, 2024 · CIK: 6845
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, stake-disclosure, investment-adviser
TL;DR
**Barrow Hanley just revealed a 5.9% stake in APOG, signaling institutional confidence.**
AI Summary
Barrow Hanley Mewhinney & Strauss LLC, a Dallas-based investment adviser, reported owning 1,324,800 shares of Apogee Enterprises, Inc. (APOG) Common Stock as of December 31, 2023. This represents a 5.9% ownership stake in the glass products manufacturer. This filing is significant because it indicates a substantial institutional investment in Apogee, suggesting confidence from a major financial player, which could be a positive signal for current and prospective shareholders.
Why It Matters
This filing shows a significant institutional investor, Barrow Hanley Mewhinney & Strauss LLC, has taken a substantial position in Apogee Enterprises, which can be interpreted as a vote of confidence in the company's future prospects.
Risk Assessment
Risk Level: low — This filing indicates a significant institutional investment, which generally reduces perceived risk by showing a major player's belief in the company.
Analyst Insight
A smart investor would view this significant institutional stake as a positive signal, potentially prompting further research into Apogee Enterprises' fundamentals and considering adding APOG to their portfolio, or holding if already owned.
Key Numbers
- 1,324,800 — Shares Owned (The total number of Apogee Enterprises Common Stock shares beneficially owned by Barrow Hanley Mewhinney & Strauss LLC.)
- 5.9% — Ownership Percentage (The percentage of Apogee Enterprises' Common Stock owned by Barrow Hanley Mewhinney & Strauss LLC, indicating a significant stake.)
- 037598109 — CUSIP Number (The unique identification number for Apogee Enterprises, Inc. Common Stock.)
Key Players & Entities
- Barrow Hanley Mewhinney & Strauss LLC (company) — the reporting person and investment adviser
- Apogee Enterprises, Inc. (company) — the subject company, a glass products manufacturer
- 1,324,800 (dollar_amount) — shares beneficially owned by Barrow Hanley
- 5.9% (dollar_amount) — percentage of class owned by Barrow Hanley
- December 31, 2023 (person) — date of the event requiring the filing
Forward-Looking Statements
- Other institutional investors may increase their positions in Apogee Enterprises, Inc. following Barrow Hanley's disclosure. (Apogee Enterprises, Inc.) — medium confidence, target: Q1 2024
FAQ
Who is the reporting person in this SC 13G filing?
The reporting person is Barrow Hanley Mewhinney & Strauss LLC, an investment adviser based in Dallas, TX, as stated in the 'FILED BY' section and the cover page of the filing.
What is the subject company of this filing?
The subject company is Apogee Enterprises, Inc., a company with the Central Index Key 0000006845, known for glass products manufacturing, as detailed in the 'SUBJECT COMPANY' section.
How many shares of Apogee Enterprises, Inc. Common Stock does Barrow Hanley Mewhinney & Strauss LLC beneficially own?
Barrow Hanley Mewhinney & Strauss LLC beneficially owns 1,324,800 shares of Apogee Enterprises, Inc. Common Stock, as indicated on the cover page of the Schedule 13G.
What percentage of Apogee Enterprises, Inc.'s Common Stock does Barrow Hanley Mewhinney & Strauss LLC own?
Barrow Hanley Mewhinney & Strauss LLC owns 5.9% of Apogee Enterprises, Inc.'s Common Stock, as reported on the cover page of the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified on the cover page of the Schedule 13G.
Filing Stats: 862 words · 3 min read · ~3 pages · Grade level 9.2 · Accepted 2024-02-13 12:49:04
Filing Documents
- apog13g02132024.htm (SC 13G) — 50KB
- 0000313028-24-000026.txt ( ) — 52KB
(a)
Item 1(a) Name of Issuer: Apogee Enterprises, Inc. 1(b) Address of Issuer's Principal Executive Offices: 4400 WEST 78TH STREET SUITE 520 MINNEAPOLIS MN 55435
(a)
Item 2(a) Name of Person Filing: Barrow Hanley Global Investors 2(b) Address of Principal Business Office or, if none, Residence: 2200 Ross Avenue, 31st Floor Dallas, TX 75201-2761 2(c) Citizenship: A Delaware limited liability company 2(d) Title of Class of Securities Common Stock 2(e) CUSIP Number: 037598109 Item 3 If this statement is filed pursuant to 240.13d-1(b), or 240.13d-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) An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) A parent holding company or control person in accordance with 240.13d-1(b)(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 a accordance with 240.13d-1(b)(1)(ii)(J). 3 Item 4 4(a) Amount beneficially owned: shares 4(b) Percent of Class: % 4(c) Number of shares as to which person has: (i) Sole power to vote or to direct the vote: shares (ii) Shared power to vote or to direct the vote: shares (iii) Sole power to dispose or to direct the disposition of: shares (iv) Shared power to dispose or to direct the disposition of: — Item 5 Yes Item 6 The right to receive or the power to direct the receipt of dividends from, or the proceeds from the