BlackRock Inc. Acquires 165,565 Shares of Apergy Corp (NYSE:APY)

BlackRock Inc. grew its position in shares of Apergy Corp (NYSE:APY) by 2.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 7,173,535 shares of the company’s stock after purchasing an additional 165,565 shares during the quarter. BlackRock Inc. owned 9.27% of Apergy worth $294,545,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of APY. Farmers National Bank acquired a new position in shares of Apergy during the 1st quarter valued at $27,000. Fort L.P. acquired a new position in shares of Apergy during the 4th quarter valued at $30,000. Phocas Financial Corp. acquired a new position in shares of Apergy during the 4th quarter valued at $30,000. Oregon Public Employees Retirement Fund increased its position in shares of Apergy by 2,643.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 837,016 shares of the company’s stock valued at $31,000 after purchasing an additional 806,508 shares during the period. Finally, Bremer Trust National Association acquired a new position in shares of Apergy during the 4th quarter valued at $33,000. Institutional investors own 92.25% of the company’s stock.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Apergy from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, March 20th. Piper Jaffray Companies initiated coverage on Apergy in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $41.03 price objective for the company. Johnson Rice raised Apergy from an “accumulate” rating to a “buy” rating and raised their price objective for the stock from $45.00 to $48.00 in a research note on Monday, March 11th. Wells Fargo & Co reissued a “buy” rating on shares of Apergy in a research note on Thursday, June 27th. Finally, Jefferies Financial Group reduced their price objective on Apergy from $48.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $44.00.

Shares of Apergy stock traded up $0.12 during midday trading on Friday, hitting $31.97. The company’s stock had a trading volume of 201,675 shares, compared to its average volume of 552,964. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.39 and a beta of 2.19. The company’s 50-day simple moving average is $32.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.53 and a quick ratio of 1.44. Apergy Corp has a 1-year low of $25.85 and a 1-year high of $46.11.

Apergy (NYSE:APY) last issued its earnings results on Tuesday, April 30th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business had revenue of $301.70 million during the quarter, compared to analysts’ expectations of $301.37 million. Apergy had a return on equity of 11.40% and a net margin of 7.47%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts forecast that Apergy Corp will post 1.45 EPS for the current year.

Apergy Profile

Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through two segments, Production & Automation Technologies and Drilling Technologies. The Production & Automation Technologies segment offers artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps, and drive systems and plunger lifts; and automation and digital equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.

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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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