Amalgamated Bank Boosts Holdings in Quanex Building Products Co. (NYSE:NX)

Amalgamated Bank increased its position in Quanex Building Products Co. (NYSE:NX) by 34.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,535 shares of the construction company’s stock after purchasing an additional 3,468 shares during the quarter. Amalgamated Bank’s holdings in Quanex Building Products were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in NX. State Board of Administration of Florida Retirement System increased its holdings in Quanex Building Products by 224.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock worth $1,177,000 after purchasing an additional 21,189 shares during the last quarter. Susquehanna International Group Ltd. acquired a new stake in shares of Quanex Building Products during the second quarter worth approximately $611,000. Victory Capital Management Inc. increased its stake in shares of 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 last quarter. Artemis Investment Management LLP bought a new stake in shares of Quanex Building Products in the third quarter worth $15,343,000. Finally, Bank of Montreal Can raised its holdings in Quanex Building Products by 512.1% in the second quarter. Bank of Montreal Can now owns 69,679 shares of the construction company’s stock valued at $1,998,000 after acquiring an additional 58,295 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on NX shares. Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com raised Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th.

Quanex Building Products Stock Down 1.7 %

Shares of Quanex Building Products stock opened at $29.95 on Monday. The business’s fifty day moving average price is $28.74 and its two-hundred day moving average price is $29.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $1.42 billion, a P/E ratio of 13.31, a PEG ratio of 0.73 and a beta of 1.25. Quanex Building Products Co. has a 1-year low of $24.85 and a 1-year high of $39.31.

Quanex Building Products (NYSE:NX) last announced 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. The firm had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, research analysts forecast that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s dividend payout ratio is presently 14.22%.

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.