Exchange Traded Concepts LLC Buys Shares of 10,792 Quanex Building Products Co. (NYSE:NX)

Exchange Traded Concepts LLC purchased a new position in shares of Quanex Building Products Co. (NYSE:NX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,792 shares of the construction company’s stock, valued at approximately $299,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC grew its stake in Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Quanex Building Products in the 2nd quarter valued at about $46,000. nVerses Capital LLC boosted its stake in shares of 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 buying an additional 1,800 shares during the period. Quest Partners LLC boosted its stake in shares of Quanex Building Products by 9,011.1% in the 2nd quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock valued at $91,000 after buying an additional 3,244 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Quanex Building Products in the 2nd quarter valued at about $101,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

Shares of NX opened at $30.59 on Monday. The stock has a 50-day simple moving average of $27.69 and a 200-day simple moving average of $30.38. The stock has a market capitalization of $1.45 billion, a PE ratio of 13.60, a PEG ratio of 1.02 and a beta of 1.26. Quanex Building Products Co. has a 1 year low of $24.85 and a 1 year high of $39.31. 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 posted its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, analysts predict that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s dividend payout ratio is currently 14.22%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. 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.

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.