Algert Global LLC bought a new position in Quanex Building Products Co. (NYSE:NX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 31,936 shares of the construction company’s stock, valued at approximately $581,000. Algert Global LLC owned approximately 0.09% of Quanex Building Products at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Piedmont Investment Advisors LLC acquired a new position in Quanex Building Products during the 2nd quarter valued at approximately $147,000. BlueMountain Capital Management LLC boosted its position in Quanex Building Products by 1,302.9% during the 2nd quarter. BlueMountain Capital Management LLC now owns 9,245 shares of the construction company’s stock valued at $166,000 after purchasing an additional 8,586 shares during the period. SG Americas Securities LLC acquired a new position in Quanex Building Products during the 2nd quarter valued at approximately $250,000. Capital Fund Management S.A. acquired a new position in Quanex Building Products during the 2nd quarter valued at approximately $372,000. Finally, Aperio Group LLC acquired a new position in Quanex Building Products during the 2nd quarter valued at approximately $383,000. Institutional investors own 98.67% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Saturday, September 8th. ValuEngine upgraded Quanex Building Products from a “sell” rating to a “hold” rating in a report on Friday, September 7th. Finally, TheStreet upgraded Quanex Building Products from a “c” rating to a “b-” rating in a report on Thursday, September 27th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Quanex Building Products currently has a consensus rating of “Hold” and a consensus target price of $22.50.
Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 6th. The construction company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Quanex Building Products had a return on equity of 6.67% and a net margin of 3.48%. The company had revenue of $239.82 million for the quarter, compared to analyst estimates of $237.92 million. During the same period in the prior year, the company posted $0.33 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. As a group, analysts expect that Quanex Building Products Co. will post 0.83 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Monday, December 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, December 14th. Quanex Building Products’s dividend payout ratio is 41.56%.
In other news, CFO Brent L. Korb sold 11,800 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $19.26, for a total value of $227,268.00. Following the transaction, the chief financial officer now owns 152,805 shares of the company’s stock, valued at approximately $2,943,024.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.32% of the company’s stock.
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About Quanex Building Products
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers; extruded vinyl profiles; window and door screens; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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