Quanex Building Products Co. (NYSE:NX) Stock Position Lowered by LSV Asset Management

LSV Asset Management lessened its position in Quanex Building Products Co. (NYSE:NX) by 4.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 879,015 shares of the construction company’s stock after selling 44,540 shares during the quarter. LSV Asset Management’s holdings in Quanex Building Products were worth $33,781,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 157.1% during the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after purchasing an additional 1,090 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in Quanex Building Products in the 1st quarter valued at $219,000. Cornerstone Investment Partners LLC acquired a new position in Quanex Building Products in the 1st quarter valued at $249,000. Strs Ohio grew its stake in Quanex Building Products by 290.5% in the 4th quarter. Strs Ohio now owns 8,200 shares of the construction company’s stock valued at $250,000 after buying an additional 6,100 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Quanex Building Products in the 4th quarter valued at $303,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

NX has been the topic of a number of research analyst reports. StockNews.com lowered shares of Quanex Building Products from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 4th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Tuesday, April 23rd.

Quanex Building Products Stock Performance

NYSE NX traded up $0.41 during midday trading on Friday, hitting $27.89. The company had a trading volume of 444,534 shares, compared to its average volume of 186,788. The firm has a fifty day simple moving average of $30.71 and a two-hundred day simple moving average of $32.70. The stock has a market cap of $923.44 million, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.80 and a beta of 1.29. Quanex Building Products Co. has a fifty-two week low of $24.97 and a fifty-two week high of $39.31. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Friday, June 7th. The construction company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The company had revenue of $266.20 million during the quarter, compared to the consensus estimate of $268.80 million. Quanex Building Products had a net margin of 7.33% and a return on equity of 16.55%. During the same period last year, the firm earned $0.66 EPS. Equities analysts forecast that Quanex Building Products Co. will post 2.33 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 Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, June 14th. Quanex Building Products’s payout ratio is 13.11%.

Quanex Building Products Company Profile

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.