Vanguard Group Inc. Lowers Stock Position in Quanex Building Products Corporation $NX

Vanguard Group Inc. decreased its holdings in Quanex Building Products Corporation (NYSE:NX) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,103,242 shares of the construction company’s stock after selling 958,607 shares during the quarter. Vanguard Group Inc. owned 8.98% of Quanex Building Products worth $63,108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameriprise Financial Inc. boosted its stake in shares of Quanex Building Products by 7.9% in the second quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after purchasing an additional 166,518 shares during the period. Deprince Race & Zollo Inc. boosted its stake in shares of Quanex Building Products by 8.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,874,353 shares of the construction company’s stock valued at $28,828,000 after purchasing an additional 139,036 shares during the period. Bank of America Corp DE boosted its stake in shares of Quanex Building Products by 28.5% in the second quarter. Bank of America Corp DE now owns 523,291 shares of the construction company’s stock valued at $9,890,000 after purchasing an additional 115,903 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Quanex Building Products by 2.4% in the third quarter. Russell Investments Group Ltd. now owns 464,270 shares of the construction company’s stock valued at $6,602,000 after purchasing an additional 11,082 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Quanex Building Products by 30.2% in the third quarter. First Eagle Investment Management LLC now owns 407,687 shares of the construction company’s stock valued at $5,797,000 after purchasing an additional 94,619 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on NX. Zacks Research lowered shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Wall Street Zen lowered shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Quanex Building Products Stock Down 0.2%

Shares of NYSE:NX opened at $19.15 on Friday. The firm’s 50 day moving average price is $18.74 and its 200 day moving average price is $17.36. The stock has a market cap of $879.33 million, a price-to-earnings ratio of -3.64, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. Quanex Building Products Corporation has a fifty-two week low of $11.04 and a fifty-two week high of $22.98. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04. The firm had revenue of $409.09 million for the quarter, compared to analysts’ expectations of $405.75 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. As a group, equities research analysts predict that Quanex Building Products Corporation will post 1.96 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.32 annualized dividend and a yield of 1.7%. Quanex Building Products’s dividend payout ratio (DPR) is -6.08%.

Quanex Building Products Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.