LSV Asset Management Decreases Stake in Quanex Building Products Co. (NYSE:NX)

LSV Asset Management lessened its stake in Quanex Building Products Co. (NYSE:NX) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 923,555 shares of the construction company’s stock after selling 24,993 shares during the period. LSV Asset Management owned about 2.79% of Quanex Building Products worth $28,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NX. Summit Global Investments raised its stake in shares of Quanex Building Products by 105.7% during the fourth quarter. Summit Global Investments now owns 15,112 shares of the construction company’s stock valued at $462,000 after purchasing an additional 7,767 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Quanex Building Products by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 27,673 shares of the construction company’s stock worth $846,000 after acquiring an additional 354 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Quanex Building Products by 493.5% during the 4th quarter. Russell Investments Group Ltd. now owns 71,482 shares of the construction company’s stock valued at $2,185,000 after buying an additional 59,438 shares during the last quarter. New York State Common Retirement Fund increased its position in Quanex Building Products by 13.3% during the fourth quarter. New York State Common Retirement Fund now owns 14,387 shares of the construction company’s stock worth $440,000 after buying an additional 1,694 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of Quanex Building Products by 14.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 229,978 shares of the construction company’s stock valued at $7,030,000 after acquiring an additional 29,662 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Insider Buying and Selling

In related news, SVP Paul Cornett sold 3,064 shares of Quanex Building Products stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.72, for a total value of $115,574.08. Following the completion of the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at approximately $1,655,983.44. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.15% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, Benchmark restated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research report on Tuesday, April 23rd.

Quanex Building Products Trading Up 1.6 %

NYSE NX opened at $34.78 on Monday. Quanex Building Products Co. has a 52 week low of $18.92 and a 52 week high of $39.31. The business has a 50 day moving average price of $35.74 and a 200-day moving average price of $32.47. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.11. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.04 and a beta of 1.38.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, March 7th. The construction company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $239.16 million for the quarter, compared to analysts’ expectations of $232.90 million. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. As a group, equities analysts expect that Quanex Building Products Co. will post 2.4 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.92%. Quanex Building Products’s payout ratio is currently 12.17%.

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.