Quanex Building Products Co. (NYSE:NX) Position Raised by Quarry LP

Quarry LP lifted its stake in shares of Quanex Building Products Co. (NYSE:NX) by 150.8% during the third quarter, Holdings Channel reports. The firm owned 1,126 shares of the construction company’s stock after purchasing an additional 677 shares during the quarter. Quarry LP’s holdings in Quanex Building Products were worth $31,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after buying an additional 393 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Quanex Building Products in the third quarter valued at about $37,000. Innealta Capital LLC acquired a new position in shares of Quanex Building Products during the second quarter worth approximately $46,000. nVerses Capital LLC lifted its holdings in Quanex Building Products by 900.0% in the second quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock valued at $55,000 after buying an additional 1,800 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in Quanex Building Products by 10,450.0% in the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after buying an additional 2,090 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NX. Benchmark restated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a report on Friday, December 6th.

Quanex Building Products Stock Performance

NYSE NX opened at $28.91 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $1.37 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 0.91 and a beta of 1.24. Quanex Building Products Co. has a 52-week low of $24.85 and a 52-week high of $39.31. The company has a 50-day simple moving average of $29.60 and a 200 day simple moving average of $29.06.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, research analysts predict that Quanex Building Products Co. will post 2.1 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s payout ratio is 14.22%.

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.