Connor Clark & Lunn Investment Management Ltd. Purchases 61,444 Shares of Quanex Building Products Co. (NYSE:NX)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Quanex Building Products Co. (NYSE:NX) by 292.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,469 shares of the construction company’s stock after acquiring an additional 61,444 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.17% of Quanex Building Products worth $2,289,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NX. GAMMA Investing LLC boosted its holdings in Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. Innealta Capital LLC bought a new position in shares of Quanex Building Products in the second quarter worth about $46,000. nVerses Capital LLC increased its stake in 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 buying an additional 1,800 shares during the period. Farther Finance Advisors LLC lifted its holdings in Quanex Building Products by 10,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after buying an additional 2,090 shares in the last quarter. Finally, Quest Partners LLC boosted its position 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. 97.48% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Price Performance

Shares of NX opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The company has a 50 day moving average price of $29.15 and a 200-day moving average price of $29.39. Quanex Building Products Co. has a fifty-two week low of $24.85 and a fifty-two week high of $39.31. The stock has a market capitalization of $1.49 billion, a PE ratio of 14.01, a PEG ratio of 0.75 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.35 million during the quarter, compared to analyst estimates 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 earned $0.97 earnings per share. Equities analysts predict that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.08 dividend. 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 1.02%. Quanex Building Products’s dividend payout ratio is presently 14.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research note 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.

About Quanex Building Products

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.