Marshall Wace North America L.P. decreased its holdings in Quanex Building Products Co. (NYSE:NX) by 38.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,051 shares of the construction company’s stock after selling 102,979 shares during the quarter. Marshall Wace North America L.P. owned about 0.49% of Quanex Building Products worth $2,575,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Arizona State Retirement System lifted its holdings in shares of Quanex Building Products by 6.1% during the 4th quarter. Arizona State Retirement System now owns 54,154 shares of the construction company’s stock valued at $736,000 after buying an additional 3,111 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Quanex Building Products during the 4th quarter valued at about $150,000. Rhumbline Advisers lifted its holdings in shares of Quanex Building Products by 20.5% during the 4th quarter. Rhumbline Advisers now owns 103,223 shares of the construction company’s stock valued at $1,403,000 after buying an additional 17,583 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of Quanex Building Products by 6.5% during the 4th quarter. TD Asset Management Inc. now owns 39,405 shares of the construction company’s stock valued at $536,000 after buying an additional 2,400 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Quanex Building Products during the 4th quarter valued at about $182,000. 98.01% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on NX. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Seaport Global Securities began coverage on Quanex Building Products in a report on Friday, March 15th. They issued a “buy” rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $18.00.
Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Tuesday, June 4th. The construction company reported $0.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $219.53 million. Quanex Building Products had a positive return on equity of 5.90% and a negative net margin of 1.15%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. Analysts expect that Quanex Building Products Co. will post 0.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, June 13th. Quanex Building Products’s dividend payout ratio is presently 49.23%.
About Quanex Building Products
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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