Arizona State Retirement System grew its stake in Quanex Building Products Co. (NYSE:NX) by 227.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,394 shares of the construction company’s stock after purchasing an additional 40,558 shares during the quarter. Arizona State Retirement System owned about 0.17% of Quanex Building Products worth $1,366,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of NX. Dimensional Fund Advisors LP increased its stake in shares of Quanex Building Products by 1.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,891,182 shares of the construction company’s stock worth $66,352,000 after acquiring an additional 31,873 shares in the last quarter. Cooke & Bieler LP increased its stake in shares of Quanex Building Products by 0.3% in the 4th quarter. Cooke & Bieler LP now owns 2,335,292 shares of the construction company’s stock worth $54,646,000 after acquiring an additional 6,145 shares in the last quarter. State Street Corp grew its position in Quanex Building Products by 5.1% during the 2nd quarter. State Street Corp now owns 837,719 shares of the construction company’s stock valued at $17,720,000 after purchasing an additional 40,540 shares during the last quarter. Wedge Capital Management L L P NC grew its position in Quanex Building Products by 4.1% during the 4th quarter. Wedge Capital Management L L P NC now owns 759,131 shares of the construction company’s stock valued at $17,764,000 after purchasing an additional 30,041 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Quanex Building Products by 4.1% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 298,422 shares of the construction company’s stock valued at $6,984,000 after purchasing an additional 11,626 shares during the last quarter.
Shares of Quanex Building Products Co. (NYSE NX) opened at $17.70 on Friday. Quanex Building Products Co. has a 1 year low of $16.50 and a 1 year high of $24.60. The company has a market cap of $634.78, a PE ratio of 22.69 and a beta of 0.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.93.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. Quanex Building Products had a net margin of 3.17% and a return on equity of 6.72%. The company had revenue of $191.70 million for the quarter, compared to the consensus estimate of $189.95 million. During the same period in the prior year, the firm posted ($0.04) EPS. Quanex Building Products’s revenue for the quarter was down 1.7% on a year-over-year basis. equities analysts predict that Quanex Building Products Co. will post 0.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, March 14th. Quanex Building Products’s payout ratio is presently 20.51%.
Several analysts recently commented on the stock. Wedbush downgraded shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 price objective on the stock. in a research report on Monday, December 18th. Zacks Investment Research downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, TheStreet downgraded shares of Quanex Building Products from a “b-” rating to a “c” rating in a research report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.50.
In other news, Director Susan F. Davis sold 10,421 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dewayne Williams sold 8,100 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $23.36, for a total transaction of $189,216.00. Following the sale, the vice president now directly owns 16,672 shares in the company, valued at approximately $389,457.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,521 shares of company stock worth $651,076. Insiders own 5.32% of the company’s stock.
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Quanex Building Products Company Profile
Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.
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