Goldman Sachs Group Inc. raised its position in shares of Quanex Co. (NYSE:NX) by 77.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,008 shares of the construction company’s stock after purchasing an additional 56,623 shares during the quarter. Goldman Sachs Group Inc. owned 0.37% of Quanex worth $3,042,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Stone Ridge Asset Management LLC acquired a new stake in Quanex during the 4th quarter valued at $363,000. Deutsche Bank AG increased its stake in shares of Quanex by 636.7% in the fourth quarter. Deutsche Bank AG now owns 237,279 shares of the construction company’s stock worth $5,550,000 after acquiring an additional 205,069 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Quanex by 31.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,203,700 shares of the construction company’s stock worth $28,167,000 after acquiring an additional 285,800 shares during the last quarter. HAP Trading LLC increased its stake in shares of Quanex by 199.4% in the fourth quarter. HAP Trading LLC now owns 43,058 shares of the construction company’s stock worth $1,008,000 after acquiring an additional 28,675 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Quanex in the fourth quarter worth $221,000.
A number of research firms have recently weighed in on NX. Zacks Investment Research downgraded shares of Quanex from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 1st. TheStreet downgraded shares of Quanex from a “b-” rating to a “c” rating in a research note on Monday, March 5th. Finally, Wedbush downgraded shares of Quanex from an “outperform” rating to a “neutral” rating and set a $25.00 price target on the stock. in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.50.
NYSE NX opened at $17.50 on Friday. Quanex Co. has a 1-year low of $16.50 and a 1-year high of $24.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.90 and a current ratio of 1.93. The firm has a market capitalization of $626.01, a PE ratio of 22.79 and a beta of 0.81.
Quanex (NYSE:NX) last issued its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $191.70 million during the quarter, compared to analysts’ expectations of $189.95 million. Quanex had a net margin of 3.17% and a return on equity of 6.72%. Quanex’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.04) earnings per share. sell-side analysts predict that Quanex Co. will post 0.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Wednesday, March 14th. Quanex’s dividend payout ratio is presently 20.78%.
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Quanex Company 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; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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