Principal Financial Group Inc. Has $5.54 Million Position in Quanex Building Products Corporation $NX

Principal Financial Group Inc. grew its holdings in Quanex Building Products Corporation (NYSE:NX) by 41.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,194 shares of the construction company’s stock after purchasing an additional 90,765 shares during the quarter. Principal Financial Group Inc. owned about 0.67% of Quanex Building Products worth $5,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its position in shares of Quanex Building Products by 7.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after acquiring an additional 166,518 shares during the period. Deprince Race & Zollo Inc. raised 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 worth $28,828,000 after purchasing an additional 139,036 shares during the last quarter. Systematic Financial Management LP lifted its holdings in shares of Quanex Building Products by 10.3% in the fourth quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company’s stock valued at $27,280,000 after purchasing an additional 165,424 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Quanex Building Products by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,099,557 shares of the construction company’s stock valued at $16,914,000 after buying an additional 4,976 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Quanex Building Products by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 889,279 shares of the construction company’s stock valued at $13,677,000 after buying an additional 115,220 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Friday, July 17th. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Trading Up 3.4%

NYSE:NX opened at $19.42 on Wednesday. Quanex Building Products Corporation has a 52 week low of $11.04 and a 52 week high of $22.98. The firm has a 50-day moving average price of $17.53 and a two-hundred day moving average price of $18.61. 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 firm has a market cap of $892.14 million, a price-to-earnings ratio of -3.45, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91.

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

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.32 annualized dividend and a yield of 1.6%. Quanex Building Products’s payout ratio is currently -5.68%.

Quanex Building Products Company 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.