Dimensional Fund Advisors LP Sells 23,478 Shares of Quanex Building Products Co. (NYSE:NX)

Dimensional Fund Advisors LP lowered its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,558,762 shares of the construction company’s stock after selling 23,478 shares during the period. Dimensional Fund Advisors LP owned 7.73% of Quanex Building Products worth $70,751,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised 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 valued at $598,000 after purchasing an additional 304 shares during the period. SummerHaven Investment Management LLC raised its holdings 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 valued at $787,000 after acquiring an additional 474 shares during the period. Texas Permanent School Fund Corp lifted its position in Quanex Building Products by 1.7% during the first 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 during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in shares of Quanex Building Products by 1.5% during the first quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock worth $1,687,000 after acquiring an additional 660 shares during the period. Finally, TD Asset Management Inc grew its position 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 during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

NYSE NX opened at $27.32 on Friday. The firm has a 50-day moving average price of $28.56 and a two-hundred day moving average price of $31.38. Quanex Building Products Co. has a 12-month low of $24.85 and a 12-month high of $39.31. The company has a market capitalization of $1.29 billion, a P/E ratio of 11.20, a P/E/G ratio of 0.91 and a beta of 1.27. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million during 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 period in the previous year, the company posted $0.97 earnings per share. Analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company 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 $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.17%. The ex-dividend date is Monday, September 16th. Quanex Building Products’s dividend payout ratio is currently 13.11%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NX. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Benchmark reissued a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

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.