Fifth Third Bancorp Buys 42,889 Shares of Quanex Building Products Corporation $NX

Fifth Third Bancorp boosted its stake in shares of Quanex Building Products Corporation (NYSE:NX) by 6,639.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,535 shares of the construction company’s stock after acquiring an additional 42,889 shares during the quarter. Fifth Third Bancorp owned 0.09% of Quanex Building Products worth $782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Western Standard LLC bought a new stake in Quanex Building Products in the fourth quarter valued at approximately $4,219,000. IES Holdings Inc. bought a new position in shares of Quanex Building Products in the fourth quarter worth approximately $3,846,000. CenterBook Partners LP grew its holdings in shares of Quanex Building Products by 656.3% in the fourth quarter. CenterBook Partners LP now owns 274,231 shares of the construction company’s stock worth $4,218,000 after purchasing an additional 237,972 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Quanex Building Products in the third quarter worth $2,617,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Quanex Building Products by 7.9% in the second quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock worth $43,013,000 after buying an additional 166,518 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Price Performance

NX stock opened at $18.74 on Tuesday. Quanex Building Products Corporation has a 1 year low of $11.04 and a 1 year high of $22.98. The company has a market cap of $860.78 million, a P/E ratio of -3.33, a PEG ratio of 0.80 and a beta of 0.91. The firm has a 50-day moving average of $17.47 and a 200 day moving average of $18.59. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.28 and a quick ratio of 1.23.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, June 4th. The construction company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.The business had revenue of $462.37 million for the quarter, compared to analysts’ expectations of $459.27 million. On average, sell-side analysts forecast that Quanex Building Products Corporation will post 1.66 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.08 per share. The ex-dividend date was Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. Quanex Building Products’s payout ratio is currently -5.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NX shares. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.00.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.