JPMorgan Chase & Co. lowered its holdings in Quanex Building Products Co. (NYSE:NX) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,813 shares of the construction company’s stock after selling 17,358 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Quanex Building Products worth $2,155,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Stone Ridge Asset Management LLC acquired a new position in shares of Quanex Building Products in the 4th quarter worth approximately $363,000. BlackRock Inc. grew its stake in shares of Quanex Building Products by 6.8% in the 4th quarter. BlackRock Inc. now owns 5,120,523 shares of the construction company’s stock worth $119,821,000 after purchasing an additional 324,661 shares during the last quarter. PEAK6 Investments L.P. acquired a new position in shares of Quanex Building Products in the 4th quarter worth approximately $376,000. Segall Bryant & Hamill LLC grew its stake in shares of Quanex Building Products by 9.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 476,167 shares of the construction company’s stock worth $11,142,000 after purchasing an additional 39,743 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Quanex Building Products by 14.5% in the 4th quarter. First Trust Advisors LP now owns 31,234 shares of the construction company’s stock worth $731,000 after purchasing an additional 3,962 shares during the last quarter. 97.36% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the stock. Sidoti cut shares of Quanex Building Products from a “buy” rating to a “neutral” rating in a research note on Friday, June 8th. ValuEngine raised shares of Quanex Building Products from a “sell” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Zacks Investment Research raised shares of Quanex Building Products from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Quanex Building Products currently has a consensus rating of “Hold” and an average target price of $22.50.
Quanex Building Products stock opened at $17.80 on Thursday. The company has a market capitalization of $641.61 million, a PE ratio of 23.12 and a beta of 0.72. The company has a current ratio of 1.93, a quick ratio of 0.98 and a debt-to-equity ratio of 0.50. Quanex Building Products Co. has a fifty-two week low of $16.25 and a fifty-two week high of $24.60.
Quanex Building Products (NYSE:NX) last released its earnings results on Monday, June 4th. The construction company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.03. The business had revenue of $214.00 million for the quarter, compared to the consensus estimate of $212.86 million. Quanex Building Products had a net margin of 3.46% and a return on equity of 6.77%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. equities research analysts predict that Quanex Building Products Co. will post 0.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, June 30th. Stockholders of record on Friday, June 15th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Thursday, June 14th. Quanex Building Products’s dividend payout ratio (DPR) is currently 20.78%.
Quanex Building Products 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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