Fifth Third Bancorp Acquires 42,889 Shares of Quanex Building Products Corporation $NX

Fifth Third Bancorp boosted its holdings in shares of Quanex Building Products Corporation (NYSE:NX) by 6,639.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,535 shares of the construction company’s stock after acquiring an additional 42,889 shares during the period. Fifth Third Bancorp’s holdings in Quanex Building Products were worth $782,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Quanex Building Products by 22.6% during the first quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock valued at $476,000 after purchasing an additional 4,720 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Quanex Building Products by 9.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company’s stock worth $521,000 after purchasing an additional 2,347 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Quanex Building Products by 25.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company’s stock worth $4,586,000 after buying an additional 49,895 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Quanex Building Products by 887.4% in the 1st quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock worth $1,579,000 after buying an additional 76,353 shares during the last quarter. Finally, Sei Investments Co. increased its position in Quanex Building Products by 8.0% during the 2nd quarter. Sei Investments Co. now owns 72,103 shares of the construction company’s stock valued at $1,363,000 after buying an additional 5,313 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Up 0.8%

Shares of Quanex Building Products stock opened at $18.74 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 2.28. The stock has a market capitalization of $860.78 million, a PE ratio of -3.33, a price-to-earnings-growth ratio of 0.80 and a beta of 0.91. Quanex Building Products Corporation has a 52-week low of $11.04 and a 52-week high of $22.98. The company has a 50-day simple moving average of $17.47 and a two-hundred day simple moving average of $18.59.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. The firm had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. On average, analysts anticipate that Quanex Building Products Corporation will post 1.66 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, June 15th. Quanex Building Products’s payout ratio is presently -5.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NX. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research note on Friday, July 17th. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

About Quanex Building Products

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.