Linden Thomas Advisory Services LLC Cuts Stake in Quanex Building Products Corporation $NX

Linden Thomas Advisory Services LLC reduced its holdings in shares of Quanex Building Products Corporation (NYSE:NX) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 60,139 shares of the construction company’s stock after selling 876 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Quanex Building Products were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Segall Bryant & Hamill LLC boosted its stake in shares of Quanex Building Products by 31.1% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,367,758 shares of the construction company’s stock valued at $25,427,000 after purchasing an additional 324,548 shares in the last quarter. Nuveen LLC bought a new stake in Quanex Building Products in the first quarter worth $3,413,000. Systematic Financial Management LP boosted its position in Quanex Building Products by 14.5% during the first quarter. Systematic Financial Management LP now owns 1,202,505 shares of the construction company’s stock valued at $22,355,000 after buying an additional 152,275 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Quanex Building Products by 6.1% during the first quarter. Ameriprise Financial Inc. now owns 2,109,352 shares of the construction company’s stock valued at $39,212,000 after buying an additional 121,323 shares during the last quarter. Finally, Bastion Asset Management Inc. bought a new position in shares of Quanex Building Products during the first quarter valued at about $2,460,000. 97.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Bradley E. Hughes acquired 6,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average cost of $15.27 per share, for a total transaction of $99,255.00. Following the acquisition, the director owned 6,500 shares of the company’s stock, valued at $99,255. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on NX. Zacks Research cut Quanex Building Products from a “hold” rating to a “strong sell” rating in a report on Thursday, September 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Saturday. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Quanex Building Products Stock Up 1.7%

Shares of NYSE:NX opened at $15.51 on Monday. The stock’s 50-day moving average is $16.51 and its 200 day moving average is $17.82. The company has a market cap of $711.37 million, a PE ratio of -2.49, a P/E/G ratio of 0.56 and a beta of 0.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.20 and a quick ratio of 1.18. Quanex Building Products Corporation has a 1 year low of $13.11 and a 1 year high of $32.23.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 4th. The construction company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.16). Quanex Building Products had a positive return on equity of 10.48% and a negative net margin of 15.45%.The business had revenue of $495.27 million during the quarter, compared to analysts’ expectations of $491.65 million. During the same quarter last year, the business posted $0.73 EPS. Quanex Building Products has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 16th. Quanex Building Products’s payout ratio is presently -5.14%.

About Quanex Building Products

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.