PNC Financial Services Group Inc. Grows Holdings in Quanex Building Products Co. (NYSE:NX)

PNC Financial Services Group Inc. increased its position in Quanex Building Products Co. (NYSE:NX) by 17.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,691 shares of the construction company’s stock after acquiring an additional 2,042 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Quanex Building Products were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NX. Principal Financial Group Inc. boosted its stake in Quanex Building Products by 779.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company’s stock worth $47,424,000 after purchasing an additional 1,733,932 shares during the period. State Street Corp boosted its stake in Quanex Building Products by 28.1% in the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after purchasing an additional 351,778 shares during the period. Pacer Advisors Inc. bought a new position in Quanex Building Products in the 4th quarter worth approximately $25,380,000. Geode Capital Management LLC boosted its stake in Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after purchasing an additional 286,128 shares during the period. Finally, Systematic Financial Management LP boosted its stake in Quanex Building Products by 14.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,022,002 shares of the construction company’s stock worth $28,361,000 after purchasing an additional 126,290 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Stock Down 2.5 %

NYSE NX opened at $19.68 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. The company has a market capitalization of $928.84 million, a P/E ratio of 17.57, a P/E/G ratio of 0.68 and a beta of 1.33. Quanex Building Products Co. has a one year low of $18.14 and a one year high of $39.31. The stock has a 50 day moving average price of $21.22 and a 200-day moving average price of $25.56.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.63%. Quanex Building Products’s dividend payout ratio is currently 52.46%.

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.