Royce & Associates LP Acquires 50,240 Shares of Quanex Building Products Corporation $NX

Royce & Associates LP boosted its stake in shares of Quanex Building Products Corporation (NYSE:NX) by 17.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 334,378 shares of the construction company’s stock after acquiring an additional 50,240 shares during the quarter. Royce & Associates LP owned approximately 0.73% of Quanex Building Products worth $4,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of 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 in the last quarter. Allworth Financial LP raised its position in Quanex Building Products by 17,191.7% in the 2nd 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 during the last quarter. Byrne Asset Management LLC acquired a new position in Quanex Building Products during the 3rd quarter worth $72,000. Tower Research Capital LLC TRC lifted its holdings in Quanex Building Products by 210.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,138 shares of the construction company’s stock worth $97,000 after buying an additional 3,484 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted 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. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NX opened at $19.60 on Thursday. The stock has a market cap of $900.42 million, a P/E ratio of -3.57, a price-to-earnings-growth ratio of 0.66 and a beta of 0.91. Quanex Building Products Corporation has a 1 year low of $11.04 and a 1 year high of $22.98. The stock’s 50-day moving average price is $19.09 and its two-hundred day moving average price is $16.60. The company has a current ratio of 2.04, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92.

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

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a $0.08 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Quanex Building Products’s dividend payout ratio is currently -5.83%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NX shares. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Benchmark dropped their price objective on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, December 15th. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.00.

Insider Buying and Selling

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90. Following the completion of the sale, the insider directly owned 4,421,879 shares in the company, valued at $70,484,751.26. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.92% of the company’s stock.

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.