Northern Trust Corp purchased a new stake in Apergy Corp (NYSE:APY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 911,387 shares of the company’s stock, valued at approximately $38,050,000. Northern Trust Corp owned 1.18% of Apergy as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of APY. Bank of New York Mellon Corp acquired a new stake in Apergy during the 2nd quarter worth $137,135,000. Schroder Investment Management Group acquired a new position in Apergy in the second quarter valued at $904,000. Advisors Asset Management Inc. acquired a new position in Apergy in the second quarter valued at $322,000. Public Employees Retirement System of Ohio acquired a new position in Apergy in the second quarter valued at $1,325,000. Finally, California Public Employees Retirement System acquired a new position in Apergy in the second quarter valued at $6,695,000. 92.96% of the stock is owned by institutional investors.
APY has been the topic of a number of recent research reports. Citigroup dropped their price objective on shares of Apergy from $47.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Zacks Investment Research upgraded shares of Apergy from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, October 11th. Jefferies Financial Group initiated coverage on shares of Apergy in a research note on Tuesday, July 17th. They issued a “buy” rating and a $50.00 price objective on the stock. Cowen lifted their price objective on shares of Apergy from $37.00 to $39.00 and gave the company a “market perform” rating in a research note on Tuesday, August 7th. Finally, Wolfe Research initiated coverage on shares of Apergy in a research note on Wednesday, October 10th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $45.50.
Shares of NYSE:APY traded down $0.89 during midday trading on Friday, hitting $38.03. The stock had a trading volume of 497,287 shares, compared to its average volume of 469,504. The company has a quick ratio of 1.46, a current ratio of 2.47 and a debt-to-equity ratio of 0.71. Apergy Corp has a 1 year low of $33.35 and a 1 year high of $46.11.
Apergy (NYSE:APY) last issued its earnings results on Wednesday, October 31st. The company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The business had revenue of $316.47 million for the quarter, compared to the consensus estimate of $321.60 million. Apergy had a net margin of 11.29% and a return on equity of 10.99%. Equities research analysts expect that Apergy Corp will post 1.45 EPS for the current fiscal year.
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Apergy Corporation provides engineered equipment and technologies that help companies drill for and produce oil and gas worldwide. The company operates through Production & Automation Technologies and Drilling Technologies segments. 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, as well as automation equipment, software, and industrial Internet of things solutions for downhole monitoring, wellsite productivity enhancement, and asset integrity management.
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