First Eagle Investment Management LLC Reduces Position in Quanex Building Products Co. (NYSE:NX)

First Eagle Investment Management LLC decreased its holdings in Quanex Building Products Co. (NYSE:NX) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 231,635 shares of the construction company’s stock after selling 24,500 shares during the quarter. First Eagle Investment Management LLC owned 0.70% of Quanex Building Products worth $6,405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Quanex Building Products in the 2nd quarter worth $46,000. nVerses Capital LLC increased its position in Quanex Building Products by 900.0% during the second 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. GAMMA Investing LLC lifted its holdings in Quanex Building Products by 157.1% in the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after acquiring an additional 1,090 shares during the period. Quest Partners LLC boosted its position in Quanex Building Products by 9,011.1% in the second quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock worth $91,000 after purchasing an additional 3,244 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Quanex Building Products during the 2nd quarter valued at about $101,000. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

NYSE:NX opened at $28.20 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a 50-day simple moving average of $28.78 and a two-hundred day simple moving average of $31.63. The firm has a market capitalization of $933.79 million, a PE ratio of 11.52, a P/E/G ratio of 0.92 and a beta of 1.27. Quanex Building Products Co. has a 52-week low of $24.85 and a 52-week high of $39.31.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The company had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. During the same period in the previous year, the company posted $0.97 EPS. 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 will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.13%. Quanex Building Products’s payout ratio is 13.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th.

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.