Quanex Building Products Co. (NYSE:NX) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in shares of Quanex Building Products Co. (NYSE:NX) by 32.4% during the second quarter, HoldingsChannel.com reports. The firm owned 56,316 shares of the construction company’s stock after selling 26,962 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Quanex Building Products were worth $1,557,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new stake in Quanex Building Products in the second quarter valued at $6,263,000. Victory Capital Management Inc. grew its stake in Quanex Building Products by 174.2% in the 2nd quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock valued at $2,296,000 after acquiring an additional 52,767 shares during the last quarter. Vanguard Group Inc. increased its holdings in Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock valued at $113,553,000 after acquiring an additional 30,198 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Quanex Building Products during the first quarter worth about $1,023,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of Quanex Building Products in the first quarter valued at about $983,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $26.95 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. Quanex Building Products Co. has a 1-year low of $24.85 and a 1-year high of $39.31. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.92 and a beta of 1.27. The business has a 50-day moving average of $28.63 and a 200-day moving average of $31.41.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.97 earnings per share. On average, equities analysts anticipate that Quanex Building Products Co. will post 2.15 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.19%. Quanex Building Products’s dividend payout ratio (DPR) is 13.11%.

Analyst Upgrades and Downgrades

NX has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th.

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.