Trexquant Investment LP Purchases New Stake in Quanex Building Products Corporation (NX)

Trexquant Investment LP purchased a new stake in Quanex Building Products Corporation (NYSE:NX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,801 shares of the construction company’s stock, valued at approximately $271,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its position in Quanex Building Products by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the construction company’s stock valued at $142,000 after buying an additional 2,946 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Quanex Building Products by 36.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock valued at $229,000 after buying an additional 2,895 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Quanex Building Products by 59.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock valued at $297,000 after purchasing an additional 4,800 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of Quanex Building Products during the 3rd quarter valued at $299,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Quanex Building Products during the 3rd quarter valued at $310,000. 99.81% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Corporation (NX) traded down $0.30 during mid-day trading on Thursday, hitting $20.90. The stock had a trading volume of 81,000 shares, compared to its average volume of 135,651. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.79 and a quick ratio of 0.93. The company has a market cap of $730.21, a P/E ratio of 24.94 and a beta of 0.70. Quanex Building Products Corporation has a 12 month low of $17.45 and a 12 month high of $23.60.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.01). The firm had revenue of $229.40 million for the quarter, compared to the consensus estimate of $235.45 million. Quanex Building Products had a return on equity of 7.87% and a net margin of 1.52%. The firm’s revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. analysts predict that Quanex Building Products Corporation will post 0.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.77%. Quanex Building Products’s payout ratio is 42.11%.

Several equities research analysts have recently issued reports on NX shares. KeyCorp reaffirmed a “hold” rating on shares of Quanex Building Products in a research report on Friday, October 27th. Wedbush raised Quanex Building Products from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Friday, September 8th. Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub lowered Quanex Building Products from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, TheStreet raised Quanex Building Products from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $24.00.

In other news, VP Brent L. Korb sold 17,500 shares of the stock in a transaction on Monday, September 25th. The stock was sold at an average price of $21.15, for a total transaction of $370,125.00. Following the completion of the transaction, the vice president now owns 94,679 shares in the company, valued at approximately $2,002,460.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.32% of the stock is currently owned by corporate insiders.

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Quanex Building Products Profile

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Institutional Ownership by Quarter for Quanex Building Products (NYSE:NX)

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