Wedge Capital Management L L P NC Buys 29,662 Shares of Quanex Building Products Co. (NYSE:NX)

Wedge Capital Management L L P NC grew its stake in Quanex Building Products Co. (NYSE:NX) by 14.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 229,978 shares of the construction company’s stock after purchasing an additional 29,662 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Quanex Building Products were worth $7,030,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NX. Ritholtz Wealth Management increased its stake in shares of Quanex Building Products by 2.0% in the 4th quarter. Ritholtz Wealth Management now owns 18,946 shares of the construction company’s stock valued at $579,000 after purchasing an additional 373 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Quanex Building Products by 4.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,126 shares of the construction company’s stock worth $462,000 after acquiring an additional 641 shares during the last quarter. TD Asset Management Inc boosted its position in shares of Quanex Building Products by 9.2% during the 3rd quarter. TD Asset Management Inc now owns 23,700 shares of the construction company’s stock worth $668,000 after purchasing an additional 2,000 shares during the period. Strs Ohio purchased a new stake in Quanex Building Products in the third quarter valued at approximately $59,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Quanex Building Products during the third quarter worth $67,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Quanex Building Products news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.72, for a total value of $115,574.08. Following the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at $1,655,983.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research report on Tuesday.

Quanex Building Products Stock Up 3.1 %

Shares of NYSE:NX opened at $34.75 on Wednesday. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $35.67 and its 200-day simple moving average is $32.14. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.00 and a beta of 1.35. Quanex Building Products Co. has a fifty-two week low of $18.71 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. The company had revenue of $239.16 million for the quarter, compared to analyst estimates of $232.90 million. As a group, equities research analysts predict that Quanex Building Products Co. will post 2.4 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, March 14th. Quanex Building Products’s payout ratio is currently 12.17%.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.