Truist Financial Corp lowered its stake in shares of Quanex Building Products Co. (NYSE:NX – Free Report) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,983 shares of the construction company’s stock after selling 387 shares during the period. Truist Financial Corp’s holdings in Quanex Building Products were worth $366,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its stake in Quanex Building Products by 13.3% during the fourth quarter. New York State Common Retirement Fund now owns 14,387 shares of the construction company’s stock valued at $440,000 after buying an additional 1,694 shares during the period. Wedge Capital Management L L P NC boosted its position in shares of Quanex Building Products by 14.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 229,978 shares of the construction company’s stock valued at $7,030,000 after acquiring an additional 29,662 shares during the last quarter. Strs Ohio grew its holdings in shares of Quanex Building Products by 290.5% during the fourth quarter. Strs Ohio now owns 8,200 shares of the construction company’s stock worth $250,000 after purchasing an additional 6,100 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Quanex Building Products in the fourth quarter worth approximately $504,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Quanex Building Products by 4.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,126 shares of the construction company’s stock valued at $462,000 after purchasing an additional 641 shares in the last quarter. 97.48% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, SVP Paul Cornett sold 3,064 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.72, for a total value of $115,574.08. Following the completion of the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at approximately $1,655,983.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.15% of the stock is owned by corporate insiders.
Quanex Building Products Trading Down 0.8 %
NYSE NX opened at $33.93 on Monday. The stock’s 50-day simple moving average is $35.75 and its two-hundred day simple moving average is $33.03. Quanex Building Products Co. has a twelve month low of $20.42 and a twelve month high of $39.31. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.01 and a beta of 1.38.
Quanex Building Products (NYSE:NX – Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The company had revenue of $239.16 million for the quarter, compared to analysts’ expectations of $232.90 million. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. Research analysts forecast that Quanex Building Products Co. will post 2.4 EPS for the current fiscal year.
Quanex Building Products Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, March 14th. Quanex Building Products’s dividend payout ratio is currently 12.17%.
Analyst Upgrades and Downgrades
Separately, Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Tuesday, April 23rd.
View Our Latest Analysis on Quanex Building Products
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.
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