Vestcor Inc Boosts Holdings in Quanex Building Products Co. (NYSE:NX)

Vestcor Inc raised its position in shares of Quanex Building Products Co. (NYSE:NX) by 720.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,360 shares of the construction company’s stock after purchasing an additional 17,000 shares during the quarter. Vestcor Inc’s holdings in Quanex Building Products were worth $537,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Quarry LP raised its holdings in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Quanex Building Products during the third quarter valued at approximately $37,000. Public Employees Retirement System of Ohio lifted its position in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after purchasing an additional 605 shares during the period. Finally, Innealta Capital LLC bought a new stake in Quanex Building Products in the 2nd quarter worth approximately $46,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com downgraded Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday.

Quanex Building Products Stock Down 2.2 %

NX opened at $28.26 on Friday. The firm’s 50 day simple moving average is $29.62 and its two-hundred day simple moving average is $29.03. The company has a market capitalization of $1.34 billion, a PE ratio of 25.23, a PEG ratio of 0.93 and a beta of 1.24. Quanex Building Products Co. has a 1-year low of $24.85 and a 1-year high of $39.31. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company posted $0.95 EPS. As a group, equities analysts forecast that Quanex Building Products Co. will post 2.1 EPS for the current year.

Quanex Building Products Announces Dividend

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

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.