HighTower Advisors LLC Sells 2,128 Shares of Quanex Building Products Co. (NYSE:NX)

HighTower Advisors LLC lowered its holdings in Quanex Building Products Co. (NYSE:NX) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,477 shares of the construction company’s stock after selling 2,128 shares during the quarter. HighTower Advisors LLC’s holdings in Quanex Building Products were worth $537,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP acquired a new stake in shares of Quanex Building Products during the third quarter worth $15,343,000. Pacer Advisors Inc. grew its holdings in Quanex Building Products by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after purchasing an additional 165,121 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Quanex Building Products by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after purchasing an additional 147,444 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Quanex Building Products by 26.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 669,270 shares of the construction company’s stock worth $18,572,000 after purchasing an additional 139,208 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Quanex Building Products by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 807,464 shares of the construction company’s stock valued at $22,326,000 after buying an additional 96,095 shares during the period. Institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NX shares. Benchmark reissued a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, December 14th.

Quanex Building Products Price Performance

Quanex Building Products stock opened at $25.10 on Friday. The firm has a market cap of $1.19 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s fifty day moving average price is $29.43 and its two-hundred day moving average price is $28.85. Quanex Building Products Co. has a one year low of $22.92 and a one year high of $39.31.

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

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, December 16th. Quanex Building Products’s payout ratio is presently 28.57%.

Insider Transactions at Quanex Building Products

In other Quanex Building Products news, CEO George Laverne Wilson purchased 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the purchase, the chief executive officer now owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.15% of the stock is currently owned by insiders.

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.