JPMorgan Chase & Co. Increases Position in Quanex Building Products Co. (NYSE:NX)

JPMorgan Chase & Co. grew its stake in shares of Quanex Building Products Co. (NYSE:NX) by 30.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 318,044 shares of the construction company’s stock after acquiring an additional 74,396 shares during the period. JPMorgan Chase & Co. owned about 0.67% of Quanex Building Products worth $8,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GAMMA Investing LLC raised its stake in shares of Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Quanex Building Products by 69.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after buying an additional 605 shares in the last quarter. Quarry LP raised its stake in Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares in the last quarter. TD Asset Management Inc raised its stake in Quanex Building Products by 3.4% in the second quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock worth $669,000 after buying an additional 800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Quanex Building Products by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 17,318 shares of the construction company’s stock worth $479,000 after buying an additional 1,038 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Insider Activity

In related news, CEO George Laverne Wilson acquired 4,328 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were purchased at an average cost of $23.03 per share, with a total value of $99,673.84. Following the completion of the acquisition, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Quanex Building Products Price Performance

NYSE NX opened at $22.41 on Tuesday. The firm’s fifty day simple moving average is $27.48 and its two-hundred day simple moving average is $28.15. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. Quanex Building Products Co. has a 12-month low of $21.48 and a 12-month high of $39.31. The firm has a market capitalization of $1.06 billion, a P/E ratio of 20.01, a P/E/G ratio of 0.89 and a beta of 1.30.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period last year, the company earned $0.95 EPS. Analysts forecast that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd.

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.