Quanex Building Products Co. (NYSE:NX) Shares Bought by Summit Global Investments

Summit Global Investments raised its position in Quanex Building Products Co. (NYSE:NX) by 105.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,112 shares of the construction company’s stock after acquiring an additional 7,767 shares during the quarter. Summit Global Investments’ holdings in Quanex Building Products were worth $462,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Strs Ohio acquired a new position in Quanex Building Products in the third quarter worth $59,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Quanex Building Products during the 3rd quarter worth approximately $67,000. Quantbot Technologies LP acquired a new position in Quanex Building Products during the 3rd quarter valued at approximately $83,000. Acadian Asset Management LLC bought a new position in Quanex Building Products during the 3rd quarter worth $112,000. Finally, Rafferty Asset Management LLC acquired a new stake in Quanex Building Products in the third quarter worth $224,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Stock Up 1.6 %

NX stock opened at $34.78 on Monday. The firm has a market cap of $1.15 billion, a PE ratio of 13.22, a P/E/G ratio of 1.04 and a beta of 1.38. Quanex Building Products Co. has a 12 month low of $18.92 and a 12 month high of $39.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31. The firm has a 50 day simple moving average of $35.74 and a 200 day simple moving average of $32.47.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, March 7th. The construction company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. The business had revenue of $239.16 million during the quarter, compared to analyst estimates of $232.90 million. Equities research analysts forecast that Quanex Building Products Co. will post 2.4 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 Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.92%. Quanex Building Products’s dividend payout ratio (DPR) is presently 12.17%.

Analysts Set New Price Targets

Separately, Benchmark restated a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research report on Tuesday, April 23rd.

Insider Activity

In other Quanex Building Products news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total value of $115,574.08. Following the transaction, the senior vice president now owns 43,902 shares in the company, valued at approximately $1,655,983.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.15% of the stock is owned by corporate insiders.

Quanex Building Products Profile

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.