Royal Bank of Canada Acquires 26,178 Shares of Quanex Building Products Corporation $NX

Royal Bank of Canada grew its holdings in Quanex Building Products Corporation (NYSE:NX) by 874.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,173 shares of the construction company’s stock after buying an additional 26,178 shares during the quarter. Royal Bank of Canada owned 0.06% of Quanex Building Products worth $524,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Western Standard LLC bought a new position in Quanex Building Products during the fourth quarter worth about $4,219,000. GSA Capital Partners LLP grew its stake in shares of Quanex Building Products by 81.1% in the 4th quarter. GSA Capital Partners LLP now owns 96,079 shares of the construction company’s stock valued at $1,478,000 after purchasing an additional 43,018 shares during the period. Principal Financial Group Inc. grew its stake in shares of Quanex Building Products by 41.7% in the 1st quarter. Principal Financial Group Inc. now owns 308,194 shares of the construction company’s stock valued at $5,538,000 after purchasing an additional 90,765 shares during the period. Sei Investments Co. lifted its position in shares of Quanex Building Products by 77.7% during the 1st quarter. Sei Investments Co. now owns 390,870 shares of the construction company’s stock worth $7,024,000 after buying an additional 170,892 shares during the period. Finally, Systematic Financial Management LP lifted its position in shares of Quanex Building Products by 10.3% during the 4th quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company’s stock worth $27,280,000 after buying an additional 165,424 shares during the period. 97.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NX. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Quanex Building Products has a consensus rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Stock Performance

NYSE NX opened at $19.94 on Wednesday. Quanex Building Products Corporation has a 1-year low of $11.04 and a 1-year high of $22.98. The company has a 50 day moving average of $18.68 and a 200-day moving average of $18.86. The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The firm has a market cap of $915.84 million, a price-to-earnings ratio of -3.54, a PEG ratio of 0.86 and a beta of 0.92.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, topping 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 the consensus estimate of $459.27 million. On average, equities analysts forecast that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.08 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Quanex Building Products’s dividend payout ratio (DPR) is -5.68%.

Quanex Building Products Company 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.