Renaissance Technologies LLC increased its stake in Quanex Building Products Co. (NYSE:NX) by 31.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,203,700 shares of the construction company’s stock after buying an additional 285,800 shares during the quarter. Renaissance Technologies LLC owned about 3.43% of Quanex Building Products worth $28,167,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of NX. The Manufacturers Life Insurance Company grew its stake in shares of Quanex Building Products by 3.6% in the second quarter. The Manufacturers Life Insurance Company now owns 27,790 shares of the construction company’s stock valued at $588,000 after buying an additional 970 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Quanex Building Products in the third quarter valued at about $626,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Quanex Building Products in the third quarter valued at about $299,000. BNP Paribas Arbitrage SA grew its stake in shares of Quanex Building Products by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 18,062 shares of the construction company’s stock valued at $415,000 after buying an additional 7,229 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of 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 valued at $297,000 after buying an additional 4,800 shares in the last quarter.
Shares of Quanex Building Products stock opened at $18.25 on Thursday. Quanex Building Products Co. has a 12 month low of $16.50 and a 12 month high of $24.60. The company has a current ratio of 1.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $629.52, a P/E ratio of 23.31 and a beta of 0.74.
Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. Quanex Building Products had a return on equity of 6.72% and a net margin of 3.17%. The firm had revenue of $191.70 million during the quarter, compared to analyst estimates of $189.95 million. During the same quarter last year, the firm earned ($0.04) EPS. Quanex Building Products’s quarterly revenue was down 1.7% on a year-over-year basis. equities research analysts forecast that Quanex Building Products Co. will post 0.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.88%. Quanex Building Products’s dividend payout ratio (DPR) is presently 20.51%.
In other Quanex Building Products news, Director Susan F. Davis sold 10,421 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $22.47, for a total transaction of $234,159.87. Following the transaction, the director now owns 35,603 shares of the company’s stock, valued at approximately $799,999.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Susan F. Davis sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $22.77, for a total value of $227,700.00. Following the transaction, the director now directly owns 35,182 shares in the company, valued at approximately $801,094.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,421 shares of company stock valued at $638,960. 5.59% of the stock is owned by insiders.
NX has been the subject of a number of recent research reports. Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Wedbush lowered Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Monday, December 18th. Finally, TheStreet lowered Quanex Building Products from a “b-” rating to a “c” rating in a research note on Monday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.50.
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Quanex Building Products 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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