ClariVest Asset Management LLC lessened its holdings in Quanex Building Products Corporation (NYSE:NX) by 45.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,200 shares of the construction company’s stock after selling 18,700 shares during the quarter. ClariVest Asset Management LLC owned approximately 0.06% of Quanex Building Products worth $509,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its position in Quanex Building Products by 47,018.6% in the first quarter. BlackRock Inc. now owns 4,691,600 shares of the construction company’s stock valued at $95,005,000 after purchasing an additional 4,681,643 shares during the period. Vanguard Group Inc. lifted its position in shares of Quanex Building Products by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 3,027,319 shares of the construction company’s stock valued at $61,304,000 after acquiring an additional 115,239 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Quanex Building Products by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the construction company’s stock worth $60,474,000 after purchasing an additional 111,005 shares in the last quarter. Kennedy Capital Management Inc. increased its stake in shares of Quanex Building Products by 11.7% during the 2nd quarter. Kennedy Capital Management Inc. now owns 966,645 shares of the construction company’s stock worth $20,445,000 after purchasing an additional 100,960 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Quanex Building Products by 17.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 499,173 shares of the construction company’s stock worth $10,557,000 after purchasing an additional 72,482 shares in the last quarter. 99.81% of the stock is currently owned by institutional investors.
NX has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Quanex Building Products from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub downgraded shares of Quanex Building Products from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Wedbush raised shares of Quanex Building Products from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $25.00 to $24.00 in a research report on Friday, September 8th. TheStreet raised shares of Quanex Building Products from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. Finally, KeyCorp restated a “hold” rating on shares of Quanex Building Products in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.00.
Shares of Quanex Building Products Corporation (NYSE:NX) traded down $0.20 on Thursday, hitting $20.70. 155,260 shares of the stock traded hands, compared to its average volume of 135,707. Quanex Building Products Corporation has a 52 week low of $17.45 and a 52 week high of $23.60. The firm has a market cap of $730.21, a price-to-earnings ratio of 24.94 and a beta of 0.70. The company has a current ratio of 1.79, a quick ratio of 0.93 and a debt-to-equity ratio of 0.61.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.01). The business had revenue of $229.40 million for the quarter, compared to analyst estimates of $235.45 million. Quanex Building Products had a return on equity of 7.87% and a net margin of 1.52%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 EPS. research analysts anticipate that Quanex Building Products Corporation will post 0.85 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Thursday, December 14th. Quanex Building Products’s dividend payout ratio is currently 42.11%.
In related news, VP Brent L. Korb sold 17,500 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $21.15, for a total transaction of $370,125.00. Following the completion of the sale, the vice president now directly owns 94,679 shares of the company’s stock, valued at approximately $2,002,460.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.32% of the stock is currently owned by corporate insiders.
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Quanex Building Products Profile
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