Point72 DIFC Ltd Takes Position in Quanex Building Products Co. (NYSE:NX)

Point72 DIFC Ltd purchased a new position in Quanex Building Products Co. (NYSE:NX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,698 shares of the construction company’s stock, valued at approximately $75,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Quanex Building Products in the third quarter valued at approximately $37,000. Innealta Capital LLC purchased a new stake in shares of Quanex Building Products during the 2nd quarter valued at approximately $46,000. nVerses Capital LLC boosted its holdings in Quanex Building Products by 900.0% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after buying an additional 1,800 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in Quanex Building Products by 10,450.0% during 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 period. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

NYSE NX opened at $29.19 on Monday. The company’s 50 day simple moving average is $29.45 and its two-hundred day simple moving average is $29.11. 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 stock has a market capitalization of $1.38 billion, a PE ratio of 12.97, a P/E/G ratio of 0.92 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.35 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.97 earnings per share. Analysts predict that Quanex Building Products Co. will post 2.1 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Analysts Set New Price Targets

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

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.