Squarepoint Ops LLC Acquires 128,076 Shares of Quanex Building Products Corporation $NX

Squarepoint Ops LLC increased its stake in shares of Quanex Building Products Corporation (NYSE:NX) by 75.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 297,441 shares of the construction company’s stock after acquiring an additional 128,076 shares during the period. Squarepoint Ops LLC’s holdings in Quanex Building Products were worth $5,622,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NX. CWM LLC boosted its position in Quanex Building Products by 104.5% during the second quarter. CWM LLC now owns 1,468 shares of the construction company’s stock worth $28,000 after purchasing an additional 750 shares during the period. Allworth Financial LP increased its holdings in Quanex Building Products by 17,191.7% in the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock worth $39,000 after purchasing an additional 2,063 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Quanex Building Products by 62.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,242 shares of the construction company’s stock valued at $80,000 after buying an additional 1,624 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of 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 valued at $97,000 after buying an additional 3,484 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its position in Quanex Building Products by 91.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 6,444 shares of the construction company’s stock valued at $122,000 after buying an additional 3,084 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Trading Up 9.0%

Shares of NX stock opened at $16.44 on Monday. The business has a 50-day moving average price of $13.72 and a two-hundred day moving average price of $16.86. Quanex Building Products Corporation has a 12-month low of $11.04 and a 12-month high of $28.71. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.92. The firm has a market cap of $754.08 million, a P/E ratio of -2.99, a price-to-earnings-growth ratio of 0.55 and a beta of 0.97.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%. The company had revenue of $489.85 million during the quarter, compared to analyst estimates of $472.62 million. During the same period in the prior year, the business posted $0.61 EPS. Equities analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.32 annualized dividend and a yield of 1.9%. Quanex Building Products’s payout ratio is -5.83%.

Analysts Set New Price Targets

Several research firms recently weighed in on NX. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.