SG Americas Securities LLC Purchases Shares of 66,230 Quanex Building Products Corporation $NX

SG Americas Securities LLC acquired a new stake in Quanex Building Products Corporation (NYSE:NX) during the third quarter, Holdings Channel reports. The institutional investor acquired 66,230 shares of the construction company’s stock, valued at approximately $942,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bastion Asset Management Inc. increased its holdings in Quanex Building Products by 161.3% in the 2nd quarter. Bastion Asset Management Inc. now owns 314,601 shares of the construction company’s stock worth $6,093,000 after buying an additional 194,205 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Quanex Building Products by 7.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after acquiring an additional 166,518 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Quanex Building Products by 32.9% in the second quarter. Loomis Sayles & Co. L P now owns 548,831 shares of the construction company’s stock worth $10,373,000 after acquiring an additional 135,875 shares during the period. Squarepoint Ops LLC raised its holdings in shares of Quanex Building Products by 75.6% during the second quarter. Squarepoint Ops LLC now owns 297,441 shares of the construction company’s stock worth $5,622,000 after purchasing an additional 128,076 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Quanex Building Products by 28.5% during the second quarter. Bank of America Corp DE now owns 523,291 shares of the construction company’s stock valued at $9,890,000 after purchasing an additional 115,903 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a report on Wednesday, October 8th. Benchmark decreased their price target on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, December 15th. Finally, Wall Street Zen upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Quanex Building Products has an average rating of “Hold” and a consensus target price of $28.00.

Insiders Place Their Bets

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $15.94, for a total transaction of $1,904,590.90. Following the transaction, the insider directly owned 4,421,879 shares of the company’s stock, valued at $70,484,751.26. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.15% of the company’s stock.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $18.69 on Tuesday. The firm has a market cap of $853.75 million, a PE ratio of -3.41, a P/E/G ratio of 0.64 and a beta of 0.93. Quanex Building Products Corporation has a twelve month low of $11.04 and a twelve month high of $24.79. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $14.80 and a 200 day moving average price of $16.43.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. The company had revenue of $489.85 million for the quarter, compared to analyst estimates of $472.62 million. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.During the same period last year, the company earned $0.61 earnings per share. Sell-side analysts predict that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Monday, December 15th. Quanex Building Products’s payout ratio is presently -5.83%.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.