Quanex Building Products Co. (NYSE:NX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Quanex Building Products Co. (NYSE:NX) by 28.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 222,522 shares of the construction company’s stock after purchasing an additional 49,716 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Quanex Building Products worth $6,175,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NX. Artemis Investment Management LLP acquired a new stake in Quanex Building Products in the third quarter worth $15,343,000. Hennessy Advisors Inc. acquired a new position in Quanex Building Products during the 2nd quarter valued at about $6,263,000. Pacer Advisors Inc. increased its stake in shares of Quanex Building Products by 14.6% in the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after purchasing an additional 165,121 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Quanex Building Products by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after buying an additional 147,444 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Quanex Building Products by 13.5% during 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. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Stock Performance

NX stock opened at $29.72 on Thursday. The firm has a 50 day simple moving average of $28.95 and a 200 day simple moving average of $29.51. Quanex Building Products Co. has a 52 week low of $24.85 and a 52 week high of $39.31. The stock has a market cap of $1.40 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.73 and a beta of 1.25. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates 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 company posted $0.97 earnings per share. Research analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors 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 1.08%. The ex-dividend date was Monday, September 16th. Quanex Building Products’s payout ratio is 14.22%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NX. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target 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 note on Tuesday, October 8th.

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.