Geode Capital Management LLC Grows Position in Quanex Building Products Co. (NYSE:NX)

Geode Capital Management LLC grew its position in shares of Quanex Building Products Co. (NYSE:NX) by 37.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,987 shares of the construction company’s stock after purchasing an additional 286,128 shares during the quarter. Geode Capital Management LLC’s holdings in Quanex Building Products were worth $28,894,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Quanex Building Products by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after buying an additional 147,444 shares in the last quarter. State Street Corp grew its position in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after acquiring an additional 351,778 shares during the period. Pacer Advisors Inc. increased its stake in shares of Quanex Building Products by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after purchasing an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Quanex Building Products by 0.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after purchasing an additional 6,566 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Quanex Building Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock worth $32,058,000 after purchasing an additional 3,400 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO George Laverne Wilson acquired 4,328 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the purchase, the chief executive officer now owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.15% of the company’s stock.

Quanex Building Products Trading Up 0.2 %

NX stock opened at $25.24 on Friday. Quanex Building Products Co. has a 12-month low of $22.92 and a 12-month high of $39.31. The business’s 50-day moving average is $29.00 and its 200 day moving average is $28.64. 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 $1.19 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 0.89 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same period last year, the firm earned $0.95 EPS. On average, sell-side analysts anticipate that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

NX has been the subject of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com cut shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

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.