Quanex Building Products Corporation $NX Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its stake in shares of Quanex Building Products Corporation (NYSE:NX) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,103,242 shares of the construction company’s stock after selling 958,607 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Quanex Building Products worth $63,108,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NX. Danske Bank A S acquired a new stake in Quanex Building Products during the third quarter worth approximately $26,000. Quarry LP raised its holdings in Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after purchasing an additional 2,136 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Quanex Building Products by 210.6% during the second quarter. Tower Research Capital LLC TRC now owns 5,138 shares of the construction company’s stock worth $97,000 after purchasing an additional 3,484 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Quanex Building Products by 91.8% during the second quarter. BNP Paribas Financial Markets now owns 6,444 shares of the construction company’s stock worth $122,000 after purchasing an additional 3,084 shares in the last quarter. Finally, Byrne Asset Management LLC raised its holdings in Quanex Building Products by 128.7% during the fourth quarter. Byrne Asset Management LLC now owns 11,550 shares of the construction company’s stock worth $178,000 after purchasing an additional 6,500 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analysts Set New Price Targets

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

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock opened at $19.15 on Friday. The firm’s fifty day simple moving average is $18.74 and its 200-day simple moving average is $17.36. The stock has a market capitalization of $879.33 million, a price-to-earnings ratio of -3.64, a PEG ratio of 0.70 and a beta of 0.95. Quanex Building Products Corporation has a 12 month low of $11.04 and a 12 month high of $22.98. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.31 and a quick ratio of 1.21.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, March 5th. The construction company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $409.09 million for the quarter, compared to analysts’ expectations of $405.75 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. As a group, equities analysts forecast that Quanex Building Products Corporation will post 1.96 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 17th. Quanex Building Products’s payout ratio is presently -6.08%.

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.