EVR Research LP purchased a new stake in Quanex Building Products Corporation (NYSE:NX – Free Report) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 130,000 shares of the construction company’s stock, valued at approximately $1,999,000. Quanex Building Products accounts for approximately 1.1% of EVR Research LP’s investment portfolio, making the stock its 26th biggest position.
Several other hedge funds and other institutional investors have also made changes to their positions in NX. Danske Bank A S acquired a new stake in shares of Quanex Building Products during the 3rd quarter worth about $26,000. Hantz Financial Services Inc. raised its position in shares of Quanex Building Products by 199.9% during the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,415 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Quanex Building Products during the 4th quarter worth about $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Quanex Building Products during the 4th quarter worth about $42,000. Finally, Quarry LP raised its position in shares of Quanex Building Products by 132.0% during the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after acquiring an additional 2,136 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on NX. Zacks Research lowered Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. Finally, Wall Street Zen lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Quanex Building Products has an average rating of “Reduce” and an average price target of $28.00.
Quanex Building Products Trading Down 1.9%
NX opened at $16.21 on Thursday. The firm has a market cap of $744.71 million, a price-to-earnings ratio of -2.88, a price-to-earnings-growth ratio of 0.71 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 business’s 50 day moving average is $18.60 and its two-hundred day moving average is $18.07. The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93.
Quanex Building Products (NYSE:NX – Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. The company had revenue of $462.37 million for the quarter, compared to analyst estimates of $459.28 million. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%. On average, research analysts predict that Quanex Building Products Corporation will post 1.66 EPS for the current year.
Quanex Building Products Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 annualized dividend and a yield of 2.0%. Quanex Building Products’s payout ratio is -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.
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