Geode Capital Management LLC Increases Position in Quanex Building Products Co. (NYSE:NX)

Geode Capital Management LLC lifted its holdings in Quanex Building Products Co. (NYSE:NX) by 37.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,040,987 shares of the construction company’s stock after buying an additional 286,128 shares during the quarter. Geode Capital Management LLC owned approximately 2.20% of Quanex Building Products worth $28,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC lifted its position 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 worth $28,000 after purchasing an additional 393 shares during the last quarter. Quarry LP grew its holdings in shares of 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 purchasing an additional 677 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Quanex Building Products during the 3rd quarter valued at about $37,000. Public Employees Retirement System of Ohio lifted its holdings in Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Quanex Building Products in the 2nd quarter worth about $46,000. 97.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NX has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Trading Up 0.2 %

NYSE NX opened at $25.24 on Friday. Quanex Building Products Co. has a one year low of $22.92 and a one 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. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25. The company’s 50-day simple moving average is $29.00 and its two-hundred day simple moving average is $28.64.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 in the prior year, the business earned $0.95 earnings per share. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Insiders Place Their Bets

In other news, CEO George Laverne Wilson bought 4,328 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the transaction, the chief executive officer now directly owns 287,644 shares in the company, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.15% of the stock is owned by insiders.

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.