Quanex Building Products Co. (NYSE:NX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Quanex Building Products Co. (NYSE:NX) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 437,848 shares of the construction company’s stock after acquiring an additional 46,635 shares during the period. Bank of New York Mellon Corp owned 0.93% of Quanex Building Products worth $10,613,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quarry LP increased its stake in Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Quanex Building Products during the 3rd quarter worth approximately $37,000. Public Employees Retirement System of Ohio raised its holdings 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 valued at $41,000 after buying an additional 605 shares during the period. Farther Finance Advisors LLC lifted its position in Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after buying an additional 2,090 shares in the last quarter. Finally, KBC Group NV grew its stake in Quanex Building Products by 69.8% during the fourth quarter. KBC Group NV now owns 2,843 shares of the construction company’s stock worth $69,000 after buying an additional 1,169 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 Price Performance

NX stock opened at $19.11 on Friday. The stock has a 50-day simple moving average of $21.66 and a 200-day simple moving average of $25.94. The firm has a market cap of $901.93 million, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. Quanex Building Products Co. has a 1 year low of $18.14 and a 1 year high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating 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 11.79%. During the same quarter last year, the company earned $0.95 EPS. On average, equities analysts predict that Quanex Building Products Co. will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.67%. The ex-dividend date is Monday, March 17th. Quanex Building Products’s dividend payout ratio (DPR) is 28.57%.

Insiders Place Their Bets

In related news, CEO George Laverne Wilson purchased 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.15% of the stock is currently owned by company 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.