Pacer Advisors Inc. Raises Position in Quanex Building Products Co. (NYSE:NX)

Pacer Advisors Inc. boosted its position in Quanex Building Products Co. (NYSE:NX) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,295,125 shares of the construction company’s stock after acquiring an additional 165,121 shares during the quarter. Pacer Advisors Inc. owned 3.91% of Quanex Building Products worth $35,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Hennessy Advisors Inc. purchased a new stake in Quanex Building Products in the second quarter worth about $6,263,000. American Century Companies Inc. lifted its holdings in Quanex Building Products by 13.5% in the second quarter. American Century Companies Inc. now owns 807,464 shares of the construction company’s stock worth $22,326,000 after buying an additional 96,095 shares during the period. Victory Capital Management Inc. lifted its holdings in Quanex Building Products by 174.2% in the second quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock worth $2,296,000 after buying an additional 52,767 shares during the period. Vanguard Group Inc. lifted its holdings in Quanex Building Products by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after buying an additional 30,198 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Quanex Building Products during the first quarter valued at approximately $1,023,000. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $28.20 on Friday. Quanex Building Products Co. has a twelve month low of $24.85 and a twelve month high of $39.31. The firm has a market cap of $933.79 million, a P/E ratio of 11.56, a PEG ratio of 0.92 and a beta of 1.27. The company has a 50 day moving average of $28.79 and a 200 day moving average of $31.56. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The business had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. During the same quarter in the previous year, the firm posted $0.97 EPS. As a group, research analysts expect that Quanex Building Products Co. will post 2.15 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 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 1.13%. The ex-dividend date of this dividend is Monday, September 16th. Quanex Building Products’s payout ratio is 13.11%.

Analysts Set New Price Targets

Several research firms have recently issued reports on NX. StockNews.com lowered shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, September 10th. Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

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.