Acadian Asset Management LLC Buys Shares of 35,199 Quanex Building Products Co. (NYSE:NX)

Acadian Asset Management LLC bought a new position in Quanex Building Products Co. (NYSE:NX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 35,199 shares of the construction company’s stock, valued at approximately $560,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC grew its stake in shares of Quanex Building Products by 4.0% in the first quarter. Parametric Portfolio Associates LLC now owns 67,885 shares of the construction company’s stock valued at $1,079,000 after buying an additional 2,583 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Quanex Building Products by 8.7% in the first quarter. Great West Life Assurance Co. Can now owns 46,876 shares of the construction company’s stock valued at $745,000 after buying an additional 3,759 shares in the last quarter. Laurion Capital Management LP grew its stake in shares of Quanex Building Products by 14.8% in the first quarter. Laurion Capital Management LP now owns 13,424 shares of the construction company’s stock valued at $213,000 after buying an additional 1,731 shares in the last quarter. Spark Investment Management LLC grew its stake in shares of Quanex Building Products by 92.3% in the first quarter. Spark Investment Management LLC now owns 30,376 shares of the construction company’s stock valued at $482,000 after buying an additional 14,576 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in shares of Quanex Building Products in the first quarter valued at $190,000. 97.51% of the stock is currently owned by institutional investors and hedge funds.

NYSE:NX opened at $17.14 on Wednesday. Quanex Building Products Co. has a 1-year low of $10.70 and a 1-year high of $19.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.32 and a quick ratio of 1.30. The firm has a market capitalization of $553.13 million, a P/E ratio of 26.37 and a beta of 1.08.

Quanex Building Products (NYSE:NX) last released its earnings results on Tuesday, June 4th. The construction company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.07. Quanex Building Products had a negative net margin of 1.15% and a positive return on equity of 5.90%. The business had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $219.53 million. During the same period last year, the business earned $0.14 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Quanex Building Products Co. will post 0.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.87%. Quanex Building Products’s dividend payout ratio (DPR) is 49.23%.

Several research firms recently weighed in on NX. Zacks Investment Research raised shares of Quanex Building Products from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research note on Saturday. Seaport Global Securities began coverage on shares of Quanex Building Products in a research note on Friday, March 15th. They issued a “buy” rating and a $19.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $18.00.

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Quanex Building Products Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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

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