Apogee Enterprises Inc. (APOG)

(A Top Pick Jan 17/17. Down 18%.) Everything played out in terms of the macro tailwinds that she had seen, but the company was so successful in taking market share from its smaller peers, that they decided they didn't want that to continue happening, so there was pricing pressure in one of their significant sectors. She sold her holdings after the latest earnings report.

(A Top Pick Jan 17/17. Down 14%.) A play on construction in the US and Canada. Does a lot of the glass in framing. A new CEO did some really nice work on improving the margins and profile, as well as diversifying. Made an acquisition that frustrated some investors. The revenue and margin profile of that acquisition, isn't quite what they wanted. This back half will be very important, because the backlog has been really strong, and she is looking forward to the next couple of quarters.

For the most part, they create the glass you see on buildings, and do the installation. The new CEO is implementing a strategy to create value including good operating efficiencies, starting to do some M&A, and building scale. They shifted to doing higher office towers, which are very cyclical. Now they are looking to penetrate some of the lower, midsize which are a lot more “steady Eddie” and not as cyclical. As they continue to show good execution, the multiple on the stock should expand. Dividend yield of 1%. (Analysts’ price target is $65.)

Glass that goes onto multi-story buildings. They are involved with the design aspects with architects. They have a good line of sight of where the market is going and have a nice pipeline of activity ahead of them. They are running the business quite well. They grew their margins without really getting any benefit from their end market. (Analysts’ target: 54.50).