First Eagle Investment Management LLC Lowers Holdings in Quanex Building Products Co. (NYSE:NX)

First Eagle Investment Management LLC trimmed its holdings in Quanex Building Products Co. (NYSE:NX) by 9.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,635 shares of the construction company’s stock after selling 24,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Quanex Building Products were worth $6,405,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NX. Janney Montgomery Scott LLC lifted its position in shares of Quanex Building Products by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company’s stock worth $598,000 after buying an additional 304 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Quanex Building Products by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock worth $787,000 after acquiring an additional 474 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of Quanex Building Products by 1.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 28,972 shares of the construction company’s stock worth $1,113,000 after acquiring an additional 477 shares in the last quarter. Oliver Luxxe Assets LLC boosted its position in shares of Quanex Building Products by 1.5% during the 1st quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock valued at $1,687,000 after acquiring an additional 660 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of Quanex Building Products by 3.4% in the second quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock valued at $669,000 after purchasing an additional 800 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $28.20 on Friday. The stock has a market cap of $933.79 million, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. 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 stock has a 50 day moving average price of $28.78 and a 200-day moving average price of $31.63. Quanex Building Products Co. has a one year low of $24.85 and a one year high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The company had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. During the same period in the previous year, the firm earned $0.97 earnings per share. Equities analysts expect that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.13%. Quanex Building Products’s payout ratio is 13.11%.

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.