Royce & Associates LP Raises Stake in Quanex Building Products Co. (NYSE:NX)

Royce & Associates LP boosted its holdings in Quanex Building Products Co. (NYSE:NX) by 12.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 528,486 shares of the construction company’s stock after buying an additional 58,315 shares during the period. Royce & Associates LP’s holdings in Quanex Building Products were worth $14,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of NX. GAMMA Investing LLC boosted its position 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 during the period. Innealta Capital LLC acquired a new position in Quanex Building Products in the second quarter valued at approximately $46,000. nVerses Capital LLC boosted its holdings in shares of 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 period. Farther Finance Advisors LLC grew its position in Quanex Building Products by 10,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after purchasing an additional 2,090 shares during the last quarter. Finally, Quest Partners LLC increased its position in 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 acquiring an additional 3,244 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th.

Quanex Building Products Stock Performance

Shares of NYSE NX opened at $29.95 on Friday. The stock’s fifty day simple moving average is $28.74 and its 200 day simple moving average is $29.60. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.73 and a beta of 1.25. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. 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 posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. The firm had revenue of $280.35 million for the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same period in the previous year, the firm earned $0.97 earnings per share. As a group, sell-side analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.07%. Quanex Building Products’s payout ratio is 14.22%.

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.