LSV Asset Management Trims Stock Position in Quanex Building Products Co. (NYSE:NX)

LSV Asset Management trimmed its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 879,015 shares of the construction company’s stock after selling 44,540 shares during the period. LSV Asset Management owned about 2.66% of Quanex Building Products worth $33,781,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its position in Quanex Building Products by 157.1% in the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after purchasing an additional 1,090 shares during the period. Mutual of America Capital Management LLC bought a new position in shares of Quanex Building Products in the first quarter valued at $219,000. Cornerstone Investment Partners LLC purchased a new position in Quanex Building Products during the 1st quarter worth approximately $249,000. Strs Ohio grew its position in Quanex Building Products by 290.5% during the 4th quarter. Strs Ohio now owns 8,200 shares of the construction company’s stock worth $250,000 after purchasing an additional 6,100 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Quanex Building Products during the 4th quarter valued at $303,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Trading Up 1.5 %

Shares of Quanex Building Products stock traded up $0.41 on Friday, hitting $27.89. The stock had a trading volume of 444,534 shares, compared to its average volume of 186,788. The stock has a 50 day moving average of $30.71 and a 200 day moving average of $32.70. Quanex Building Products Co. has a twelve month low of $24.97 and a twelve month high of $39.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 2.22. The firm has a market capitalization of $923.44 million, a P/E ratio of 11.46, a PEG ratio of 0.80 and a beta of 1.29.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. The firm had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $268.80 million. During the same period in the prior year, the business earned $0.66 EPS. Sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, June 14th. Quanex Building Products’s dividend payout ratio is presently 13.11%.

Analysts Set New Price Targets

NX has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Tuesday, April 23rd. StockNews.com cut shares of Quanex Building Products from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 4th.

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.