Louisiana State Employees Retirement System Increases Stock Holdings in Quanex Building Products Co. (NYSE:NX)

Louisiana State Employees Retirement System raised its stake in shares of Quanex Building Products Co. (NYSE:NX) by 36.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,800 shares of the construction company’s stock after purchasing an additional 6,100 shares during the quarter. Louisiana State Employees Retirement System owned 0.07% of Quanex Building Products worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of NX. Allspring Global Investments Holdings LLC boosted its holdings in shares of Quanex Building Products by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after buying an additional 147,444 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Quanex Building Products by 14.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after acquiring an additional 165,121 shares during the period. Renaissance Technologies LLC increased its position in shares of Quanex Building Products by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock valued at $32,058,000 after purchasing an additional 3,400 shares during the last quarter. American Century Companies Inc. increased its position in shares of Quanex Building Products by 13.5% during the 2nd quarter. American Century Companies Inc. now owns 807,464 shares of the construction company’s stock valued at $22,326,000 after purchasing an additional 96,095 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in Quanex Building Products in the 3rd quarter worth approximately $15,343,000. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Price Performance

NX opened at $29.84 on Wednesday. The stock’s 50-day moving average price is $28.14 and its 200 day moving average price is $29.78. Quanex Building Products Co. has a 12-month low of $24.85 and a 12-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 firm has a market cap of $1.41 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.71 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.35 million for 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 quarter in the prior year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, September 16th. Quanex Building Products’s dividend payout ratio is currently 14.22%.

Analyst Ratings Changes

NX has been the subject of a number of analyst reports. StockNews.com upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

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.