Wells Fargo & Company MN grew its position in shares of Quanex Building Products Co. (NYSE:NX) by 7.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 209,803 shares of the construction company’s stock after buying an additional 14,108 shares during the quarter. Wells Fargo & Company MN owned approximately 0.61% of Quanex Building Products worth $4,815,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of NX. Trexquant Investment LP acquired a new position in Quanex Building Products in the third quarter valued at approximately $271,000. Dynamic Technology Lab Private Ltd acquired a new position in Quanex Building Products in the third quarter valued at approximately $310,000. HAP Trading LLC acquired a new stake in Quanex Building Products in the third quarter worth $330,000. Russell Investments Group Ltd. raised its holdings in Quanex Building Products by 1.8% in the third quarter. Russell Investments Group Ltd. now owns 131,996 shares of the construction company’s stock worth $3,029,000 after purchasing an additional 2,390 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Quanex Building Products by 59.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock worth $297,000 after purchasing an additional 4,800 shares during the period. 99.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Quanex Building Products Co. (NX) opened at $22.60 on Friday. The company has a market cap of $787.61, a price-to-earnings ratio of 42.64 and a beta of 0.70. Quanex Building Products Co. has a twelve month low of $17.45 and a twelve month high of $24.60. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54.
Quanex Building Products (NYSE:NX) last released its earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $233.00 million during the quarter, compared to the consensus estimate of $232.47 million. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share. analysts predict that Quanex Building Products Co. will post 0.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, December 14th. Quanex Building Products’s dividend payout ratio (DPR) is currently 30.19%.
Several equities research analysts have weighed in on the stock. Wedbush lowered shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Monday, December 18th. Zacks Investment Research lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Finally, KeyCorp restated a “hold” rating on shares of Quanex Building Products in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Quanex Building Products has an average rating of “Hold” and an average target price of $25.00.
In other news, Director Susan F. Davis sold 10,000 shares of Quanex Building Products stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $22.77, for a total value of $227,700.00. Following the completion of the transaction, the director now owns 35,182 shares of the company’s stock, valued at approximately $801,094.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Susan F. Davis sold 10,421 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $22.47, for a total transaction of $234,159.87. Following the sale, the director now owns 35,603 shares of the company’s stock, valued at approximately $799,999.41. The disclosure for this sale can be found here. In the last three months, insiders sold 78,921 shares of company stock valued at $1,861,684. Insiders own 5.32% of the company’s stock.
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Quanex Building Products Profile
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