Oliver Luxxe Assets LLC Raises Stake in Quanex Building Products Co. (NYSE:NX)

Oliver Luxxe Assets LLC increased its position in shares of Quanex Building Products Co. (NYSE:NX) by 1.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 43,900 shares of the construction company’s stock after purchasing an additional 660 shares during the period. Oliver Luxxe Assets LLC’s holdings in Quanex Building Products were worth $1,687,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NX. GAMMA Investing LLC lifted its holdings 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 valued at $69,000 after purchasing an additional 1,090 shares during the last quarter. Vanguard Group Inc. boosted its stake in Quanex Building Products by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after purchasing an additional 30,198 shares in the last quarter. Quest Partners LLC purchased a new stake in Quanex Building Products during the 4th quarter worth approximately $303,000. Trexquant Investment LP raised its holdings in shares of Quanex Building Products by 11.3% in the fourth quarter. Trexquant Investment LP now owns 11,808 shares of the construction company’s stock worth $361,000 after buying an additional 1,197 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Quanex Building Products during the fourth quarter worth $611,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

Shares of NYSE:NX traded down $0.79 during trading on Monday, hitting $26.86. 100,583 shares of the stock traded hands, compared to its average volume of 180,645. The company has a fifty day moving average price of $31.97 and a two-hundred day moving average price of $33.01. Quanex Building Products Co. has a 52-week low of $24.97 and a 52-week high of $39.31. The company has a market cap of $889.33 million, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.85 and a beta of 1.29. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. Quanex Building Products had a net margin of 7.33% and a return on equity of 16.55%. The company had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $268.80 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. As a group, equities analysts predict that Quanex Building Products Co. will post 2.33 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.19%. The ex-dividend date was Friday, June 14th. Quanex Building Products’s payout ratio is currently 13.11%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NX. StockNews.com lowered Quanex Building Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 22nd. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a report on Tuesday, April 23rd.

Quanex Building Products 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.