Oppenheimer Asset Management Inc. reduced its stake in shares of Apergy Corp (NYSE:APY) by 10.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,348 shares of the company’s stock after selling 1,016 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Apergy were worth $280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of APY. Janus Henderson Group PLC boosted its stake in shares of Apergy by 39.1% during the second quarter. Janus Henderson Group PLC now owns 2,250,965 shares of the company’s stock valued at $75,497,000 after purchasing an additional 632,150 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of Apergy by 460.7% during the first quarter. TimesSquare Capital Management LLC now owns 470,400 shares of the company’s stock valued at $19,315,000 after purchasing an additional 386,500 shares during the period. Jennison Associates LLC purchased a new stake in shares of Apergy during the first quarter valued at $7,681,000. BlackRock Inc. boosted its stake in shares of Apergy by 2.4% during the first quarter. BlackRock Inc. now owns 7,173,535 shares of the company’s stock valued at $294,545,000 after purchasing an additional 165,565 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Apergy by 15.8% during the second quarter. Van ECK Associates Corp now owns 1,052,672 shares of the company’s stock valued at $35,307,000 after purchasing an additional 143,398 shares during the period. 94.01% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on the stock. Wells Fargo & Co lowered their target price on shares of Apergy from $39.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday. Bank of America reissued a “buy” rating and set a $40.00 target price (down from $51.00) on shares of Apergy in a research note on Tuesday, June 25th. Zacks Investment Research lowered shares of Apergy from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 3rd. Jefferies Financial Group lowered their target price on shares of Apergy from $48.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Finally, Citigroup lowered shares of Apergy from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $41.00 to $34.00 in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $40.90.

NYSE:APY traded down $0.10 during mid-day trading on Friday, reaching $28.71. The company’s stock had a trading volume of 4,890 shares, compared to its average volume of 475,842. Apergy Corp has a 1 year low of $23.80 and a 1 year high of $46.11. The stock has a fifty day moving average of $28.19 and a 200-day moving average of $34.55. The firm has a market capitalization of $2.27 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.46 and a beta of 2.28. The company has a quick ratio of 1.47, a current ratio of 2.63 and a debt-to-equity ratio of 0.59.

Apergy (NYSE:APY) last released its quarterly earnings data on Wednesday, July 24th. The company reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Apergy had a net margin of 7.60% and a return on equity of 10.86%. The company had revenue of $306.05 million during the quarter, compared to analyst estimates of $310.64 million. Apergy’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that Apergy Corp will post 1.35 earnings per share for the current year.

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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Institutional Ownership by Quarter for Apergy (NYSE:APY)

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