The Manufacturers Life Insurance Company Buys 1,038 Shares of Quanex Building Products Co. (NYSE:NX)

The Manufacturers Life Insurance Company raised its stake in shares of Quanex Building Products Co. (NYSE:NX) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,318 shares of the construction company’s stock after purchasing an additional 1,038 shares during the period. The Manufacturers Life Insurance Company owned 0.05% of Quanex Building Products worth $479,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Innealta Capital LLC bought a new position in shares of Quanex Building Products in the 2nd quarter worth about $46,000. nVerses Capital LLC raised its position in shares of Quanex Building Products by 900.0% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after acquiring an additional 1,800 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Quanex Building Products by 157.1% in the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,090 shares in the last quarter. Quest Partners LLC raised its position in shares of Quanex Building Products by 9,011.1% in the 2nd quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock worth $91,000 after acquiring an additional 3,244 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Quanex Building Products in the 2nd quarter worth about $101,000. 97.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NX shares. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com raised Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock opened at $30.48 on Thursday. Quanex Building Products Co. has a one year low of $24.85 and a one year high of $39.31. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.97 and a beta of 1.26. The business has a 50-day simple moving average of $27.55 and a 200 day simple moving average of $30.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The business had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. During the same period in the previous year, the company posted $0.97 EPS. On average, research analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. Quanex Building Products’s dividend payout ratio (DPR) is currently 14.22%.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.