Quanex Building Products Co. (NYSE:NX) Sees Significant Decline in Short Interest

Quanex Building Products Co. (NYSE:NX) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 2,350,000 shares, a decline of 19.0% from the March 15th total of 2,900,000 shares. Based on an average daily volume of 507,900 shares, the short-interest ratio is currently 4.6 days. Approximately 5.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in shares of Quanex Building Products by 833.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company’s stock worth $34,000 after purchasing an additional 1,267 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after purchasing an additional 605 shares during the period. Federated Hermes Inc. bought a new position in Quanex Building Products in the 4th quarter worth approximately $44,000. GAMMA Investing LLC raised its stake in Quanex Building Products by 106.5% during the 1st quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company’s stock valued at $49,000 after acquiring an additional 1,350 shares in the last quarter. Finally, KBC Group NV boosted its position in Quanex Building Products by 69.8% during the 4th quarter. KBC Group NV now owns 2,843 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,169 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Stock Up 2.2 %

NX stock traded up $0.34 during mid-day trading on Friday, hitting $16.16. 342,620 shares of the company were exchanged, compared to its average volume of 481,365. The company has a market capitalization of $763.04 million, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The firm has a fifty day simple moving average of $19.19 and a 200 day simple moving average of $24.11. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Quanex Building Products has a twelve month low of $15.53 and a twelve month high of $35.92.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Monday, March 17th. Quanex Building Products’s dividend payout ratio is presently 52.46%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd.

About Quanex Building Products

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.