Quanex Building Products Co. (NYSE:NX) Shares Acquired by State Street Corp

State Street Corp raised its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 28.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,604,668 shares of the construction company’s stock after buying an additional 351,778 shares during the period. State Street Corp’s holdings in Quanex Building Products were worth $44,530,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares in the last quarter. Quarry LP lifted its holdings in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Quanex Building Products in the 3rd quarter valued at $37,000. Innealta Capital LLC purchased a new position in Quanex Building Products in the 2nd quarter worth about $46,000. Finally, nVerses Capital LLC raised its holdings in 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 buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

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 target price on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th.

Quanex Building Products Stock Down 5.5 %

Shares of Quanex Building Products stock opened at $23.13 on Friday. Quanex Building Products Co. has a 1 year low of $22.92 and a 1 year high of $39.31. The company has a market cap of $1.09 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.89 and a beta of 1.24. 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 50-day moving average price of $29.43 and a 200 day moving average price of $28.85.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period last year, the business earned $0.95 earnings per share. As a group, analysts expect that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is currently 28.57%.

Insider Activity

In other news, CEO George Laverne Wilson purchased 4,328 shares of Quanex Building Products stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the acquisition, the chief executive officer now directly owns 287,644 shares in the company, valued at $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.15% of the stock is currently owned by corporate insiders.

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.