Ritholtz Wealth Management Decreases Stock Holdings in Quanex Building Products Co. (NYSE:NX)

Ritholtz Wealth Management cut its stake in Quanex Building Products Co. (NYSE:NX) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,522 shares of the construction company’s stock after selling 729 shares during the period. Ritholtz Wealth Management’s holdings in Quanex Building Products were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NX. nVerses Capital LLC grew its stake in Quanex Building Products by 900.0% in the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock valued at $55,000 after acquiring an additional 1,800 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Quanex Building Products during the 2nd quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Quanex Building Products by 30.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,146 shares of the construction company’s stock worth $281,000 after purchasing an additional 2,374 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Quanex Building Products by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 349,870 shares of the construction company’s stock valued at $9,674,000 after buying an additional 3,283 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Quanex Building Products by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock valued at $787,000 after buying an additional 474 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Stock Performance

NYSE:NX opened at $24.87 on Friday. Quanex Building Products Co. has a 1-year low of $24.85 and a 1-year high of $39.31. The firm has a 50 day simple moving average of $28.62 and a 200-day simple moving average of $32.06. The firm has a market cap of $823.45 million, a PE ratio of 10.19, a P/E/G ratio of 0.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.22 and a quick ratio of 1.37.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Friday, June 7th. The construction company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. The business had revenue of $266.20 million during the quarter, compared to the consensus estimate of $268.80 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. On average, equities analysts expect that Quanex Building Products Co. will post 2.33 EPS for the current year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Monday, September 16th. Quanex Building Products’s dividend payout ratio is currently 13.11%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Quanex Building Products from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th.

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.