Medina Value Partners LLC Takes Position in Quanex Building Products Corporation $NX

Medina Value Partners LLC bought a new stake in Quanex Building Products Corporation (NYSE:NX) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 323,644 shares of the construction company’s stock, valued at approximately $4,602,000. Quanex Building Products makes up 1.1% of Medina Value Partners LLC’s holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Allworth Financial LP boosted its position in shares of Quanex Building Products by 17,191.7% during the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock worth $39,000 after buying an additional 2,063 shares during the period. Byrne Asset Management LLC purchased a new stake in Quanex Building Products during the 3rd quarter worth approximately $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. 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 period. Finally, Inscription Capital LLC acquired a new position in shares of Quanex Building Products during the third quarter worth about $186,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. 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. Benchmark lowered their target price on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, December 15th. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In related news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $15.94, for a total value of $1,904,590.90. Following the sale, the insider directly owned 4,421,879 shares of the company’s stock, valued at approximately $70,484,751.26. The trade was a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.92% of the stock is owned by corporate insiders.

Quanex Building Products Price Performance

Shares of NX stock traded up $0.02 during midday trading on Friday, reaching $17.07. 11,402 shares of the company were exchanged, compared to its average volume of 585,764. Quanex Building Products Corporation has a 12 month low of $11.04 and a 12 month high of $22.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 2.31. The company has a market cap of $783.89 million, a P/E ratio of -3.26, a PEG ratio of 0.65 and a beta of 0.91. The company’s 50 day moving average price is $19.35 and its two-hundred day moving average price is $16.48.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The firm had revenue of $409.09 million during the quarter, compared to the consensus estimate of $405.75 million. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%. On average, sell-side analysts expect that Quanex Building Products Corporation will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Tuesday, March 17th. Quanex Building Products’s payout ratio is currently -6.08%.

Quanex Building Products Profile

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.