Allspring Global Investments Holdings LLC Raises Stake in Quanex Building Products Co. (NYSE:NX)

Allspring Global Investments Holdings LLC lifted its stake in shares of Quanex Building Products Co. (NYSE:NX) by 4.6% during the 3rd quarter, Holdings Channel reports. The fund owned 3,347,818 shares of the construction company’s stock after buying an additional 147,444 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Quanex Building Products worth $92,902,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the period. Innealta Capital LLC purchased a new position in shares of Quanex Building Products during the 2nd quarter worth $46,000. nVerses Capital LLC increased its position in shares of Quanex Building Products by 900.0% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,800 shares during the last quarter. Quest Partners LLC raised its holdings in 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 valued at $91,000 after buying an additional 3,244 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Quanex Building Products in the 2nd quarter valued at about $101,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analysts Set New Price Targets

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

Quanex Building Products Trading Up 1.1 %

Shares of NYSE NX opened at $30.59 on Monday. The stock has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $30.38. Quanex Building Products Co. has a twelve month low of $24.85 and a twelve month high of $39.31. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.45 billion, a PE ratio of 13.60, a PEG ratio of 1.02 and a beta of 1.26.

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

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued 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 presently 14.22%.

Quanex Building Products 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.