The Manufacturers Life Insurance Company Has $625,000 Position in Quanex Building Products Co. (NYSE:NX)

The Manufacturers Life Insurance Company raised its holdings in Quanex Building Products Co. (NYSE:NX) by 30.2% during the third quarter, HoldingsChannel reports. The firm owned 22,550 shares of the construction company’s stock after acquiring an additional 5,232 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Quanex Building Products were worth $625,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Quanex Building Products in the 2nd quarter valued at $46,000. nVerses Capital LLC lifted its stake in shares of Quanex Building Products by 900.0% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock valued at $55,000 after acquiring an additional 1,800 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Quanex Building Products by 10,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Quanex Building Products by 9,011.1% in the 2nd quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock valued at $91,000 after acquiring an additional 3,244 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NX. Benchmark reiterated a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday.

Quanex Building Products Stock Down 2.2 %

Shares of NX opened at $28.26 on Friday. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 0.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. Quanex Building Products Co. has a 52 week low of $24.85 and a 52 week high of $39.31. The stock has a fifty day moving average of $29.62 and a 200-day moving average of $29.03.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter last year, the company posted $0.95 earnings per share. As a group, sell-side analysts anticipate that Quanex Building Products Co. will post 2.1 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s dividend payout ratio is currently 28.57%.

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.