Ritholtz Wealth Management Decreases Stake in Quanex Building Products Co. (NYSE:NX)

Ritholtz Wealth Management trimmed its position in shares of Quanex Building Products Co. (NYSE:NX) by 12.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,965 shares of the construction company’s stock after selling 1,557 shares during the period. Ritholtz Wealth Management’s holdings in Quanex Building Products were worth $304,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NX. State Board of Administration of Florida Retirement System lifted its holdings in Quanex Building Products by 224.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock worth $1,177,000 after buying an additional 21,189 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Quanex Building Products during the first quarter worth approximately $983,000. Susquehanna International Group Ltd. acquired a new position in Quanex Building Products in the second quarter valued at approximately $611,000. Hillsdale Investment Management Inc. purchased a new position in Quanex Building Products in the first quarter valued at approximately $1,023,000. Finally, Victory Capital Management Inc. lifted its position in shares of Quanex Building Products by 174.2% during the 2nd quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock worth $2,296,000 after buying an additional 52,767 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $30.26 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.00 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.97 and a beta of 1.26. The stock has a 50 day moving average of $27.61 and a two-hundred day moving average of $30.47. Quanex Building Products Co. has a twelve month low of $24.85 and a twelve month high of $39.31.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the prior year, the business earned $0.97 EPS. On average, research analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.06%. Quanex Building Products’s dividend payout ratio (DPR) is currently 13.11%.

Analysts Set New Price Targets

A number of research firms recently commented on NX. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products 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.