EVR Research LP Invests $2 Million in Quanex Building Products Corporation $NX

EVR Research LP bought a new stake in shares of Quanex Building Products Corporation (NYSE:NX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 130,000 shares of the construction company’s stock, valued at approximately $1,999,000. Quanex Building Products accounts for 1.1% of EVR Research LP’s portfolio, making the stock its 26th biggest position. EVR Research LP owned 0.28% of Quanex Building Products at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. boosted its holdings in Quanex Building Products by 7.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after acquiring an additional 166,518 shares during the period. Deprince Race & Zollo Inc. boosted its holdings in Quanex Building Products by 8.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,874,353 shares of the construction company’s stock valued at $28,828,000 after acquiring an additional 139,036 shares during the period. Systematic Financial Management LP boosted its holdings in Quanex Building Products by 10.3% during the 4th quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company’s stock valued at $27,280,000 after acquiring an additional 165,424 shares during the period. Geode Capital Management LLC boosted its holdings in Quanex Building Products by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,099,557 shares of the construction company’s stock valued at $16,914,000 after acquiring an additional 4,976 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Quanex Building Products by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 889,279 shares of the construction company’s stock valued at $13,677,000 after acquiring an additional 115,220 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Price Performance

NX stock opened at $16.21 on Thursday. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.28 and a quick ratio of 1.23. The firm has a market capitalization of $744.71 million, a P/E ratio of -2.88, a P/E/G ratio of 0.71 and a beta of 0.91. The business’s 50-day moving average is $18.60 and its two-hundred day moving average is $18.07. Quanex Building Products Corporation has a 1 year low of $11.04 and a 1 year high of $22.98.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business 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 $0.08 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. Quanex Building Products’s dividend payout ratio (DPR) is currently -5.68%.

Analyst Ratings Changes

NX has been the subject of a number of research analyst reports. Zacks Research cut Quanex Building Products from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. Finally, Wall Street Zen cut Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Quanex Building Products has an average rating of “Reduce” and an average target price of $28.00.

About Quanex Building Products

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.