Fmr LLC Cuts Stock Holdings in Apergy Corp (NYSE:APY)

FMR LLC reduced its stake in shares of Apergy Corp (NYSE:APY) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,228,695 shares of the company’s stock after selling 105,238 shares during the quarter. FMR LLC owned about 2.88% of Apergy worth $91,510,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Texas Permanent School Fund boosted its position in Apergy by 3.8% during the 1st quarter. Texas Permanent School Fund now owns 52,521 shares of the company’s stock worth $2,157,000 after acquiring an additional 1,910 shares during the last quarter. Clearbridge Investments LLC boosted its position in Apergy by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,426,564 shares of the company’s stock worth $58,575,000 after acquiring an additional 25,466 shares during the last quarter. Northern Trust Corp boosted its position in Apergy by 11.1% during the 4th quarter. Northern Trust Corp now owns 927,917 shares of the company’s stock worth $25,128,000 after acquiring an additional 92,673 shares during the last quarter. Fulton Bank N.A. acquired a new position in Apergy during the 1st quarter worth approximately $227,000. Finally, Chartwell Investment Partners LLC boosted its position in Apergy by 2.1% during the 1st quarter. Chartwell Investment Partners LLC now owns 406,100 shares of the company’s stock worth $16,674,000 after acquiring an additional 8,440 shares during the last quarter. Institutional investors and hedge funds own 92.22% of the company’s stock.

APY traded up $0.38 during trading hours on Friday, reaching $30.29. The company’s stock had a trading volume of 495,129 shares, compared to its average volume of 518,295. Apergy Corp has a 52 week low of $25.85 and a 52 week high of $46.11. The company’s 50-day simple moving average is $31.84. The company has a current ratio of 2.53, a quick ratio of 1.44 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.28 and a beta of 2.19.

Apergy (NYSE:APY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $301.70 million for 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. Analysts predict that Apergy Corp will post 1.42 EPS for the current year.

A number of equities analysts have weighed in on the company. Wells Fargo & Co reaffirmed a “buy” rating on shares of Helmerich & Payne in a research report on Thursday, June 27th. Jefferies Financial Group upgraded SALVATORE FERRA/ADR from an “underperform” rating to a “hold” rating in a research note on Tuesday, June 25th. Citigroup cut Apergy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. Piper Jaffray Companies started coverage on Apergy in a research note on Wednesday, April 3rd. They set an “overweight” rating and a $41.03 price objective on the stock. Finally, Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Apergy presently has a consensus rating of “Buy” and an average price target of $42.80.

Apergy Company 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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