Rhumbline Advisers Lowers Holdings in Quanex Building Products Co. (NYSE:NX)

Rhumbline Advisers lowered its position in Quanex Building Products Co. (NYSE:NX) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,905 shares of the construction company’s stock after selling 1,096 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Quanex Building Products worth $2,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NX. Vanguard Group Inc. increased its position in Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock valued at $113,553,000 after purchasing an additional 30,198 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Quanex Building Products by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,581 shares of the construction company’s stock worth $15,578,000 after buying an additional 9,172 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Quanex Building Products by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 349,870 shares of the construction company’s stock worth $9,674,000 after buying an additional 3,283 shares during the period. First Eagle Investment Management LLC boosted its position in Quanex Building Products by 2.7% during the 1st quarter. First Eagle Investment Management LLC now owns 256,135 shares of the construction company’s stock valued at $9,843,000 after acquiring an additional 6,680 shares in the last quarter. Finally, Hennessy Advisors Inc. bought a new stake in Quanex Building Products during the 2nd quarter valued at $6,263,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Stock Performance

NYSE NX opened at $28.28 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market capitalization of $936.44 million, a P/E ratio of 11.59, a PEG ratio of 0.92 and a beta of 1.27. The stock has a 50-day simple moving average of $28.72 and a two-hundred day simple moving average of $31.67. Quanex Building Products Co. has a fifty-two week low of $24.85 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The business had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. During the same quarter last year, the business posted $0.97 earnings per share. On average, equities analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.13%. Quanex Building Products’s dividend payout ratio is presently 13.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NX shares. Benchmark reaffirmed 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 downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th.

About Quanex Building Products

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.