Arizona State Retirement System increased its position in shares of Quanex Co. (NYSE:NX) by 227.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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 0.17% of Quanex worth $1,366,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Quanex by 4.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 298,422 shares of the construction company’s stock worth $6,984,000 after acquiring an additional 11,626 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Quanex by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 18,062 shares of the construction company’s stock worth $415,000 after acquiring an additional 7,229 shares during the last quarter. Cooke & Bieler LP raised its holdings in shares of Quanex by 0.3% in the fourth 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 during the last quarter. Pinebridge Investments L.P. raised its holdings in shares of Quanex by 456.4% in the fourth quarter. Pinebridge Investments L.P. now owns 23,782 shares of the construction company’s stock worth $556,000 after acquiring an additional 19,508 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Quanex in the third quarter worth $626,000.
In other Quanex news, Director Susan F. Davis sold 10,421 shares of the business’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 completion of the sale, the director now owns 35,603 shares of the company’s stock, valued at $799,999.41. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph D. Rupp sold 10,000 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $17.71, for a total value of $177,100.00. Following the sale, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $177,100. The disclosure for this sale can be found here. 5.32% of the stock is owned by insiders.
Shares of NYSE:NX remained flat at $$17.95 during midday trading on Friday. The stock had a trading volume of 182,998 shares, compared to its average volume of 274,194. The stock has a market capitalization of $629.52, a P/E ratio of 23.31 and a beta of 0.81. 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 Co. has a twelve month low of $16.50 and a twelve month high of $24.60.
Quanex (NYSE:NX) last announced its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The business had revenue of $191.70 million during the quarter, compared to the consensus estimate of $189.95 million. Quanex had a return on equity of 6.72% and a net margin of 3.17%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.04) earnings per share. research analysts forecast that Quanex Co. will post 0.93 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Wednesday, March 14th. Quanex’s dividend payout ratio is currently 20.78%.
A number of research firms have recently weighed in on NX. Wedbush cut Quanex from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Monday, December 18th. Zacks Investment Research cut Quanex from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 1st. Finally, TheStreet downgraded Quanex from a “b-” rating to a “c” rating in a research report on Monday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $22.50.
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Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers; extruded vinyl profiles; window and door screens; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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