Parametric Portfolio Associates LLC lifted its stake in shares of Quanex Building Products Co. (NYSE:NX) by 64.2% in the first quarter, Holdings Channel.com reports. The fund owned 165,171 shares of the construction company’s stock after acquiring an additional 64,604 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Quanex Building Products were worth $1,665,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its position in shares of Quanex Building Products by 591.7% during the first quarter. FMR LLC now owns 1,757 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,503 shares during the last quarter. Aigen Investment Management LP grew its stake in Quanex Building Products by 535.0% during the first quarter. Aigen Investment Management LP now owns 2,559 shares of the construction company’s stock worth $26,000 after purchasing an additional 2,156 shares during the period. Point72 Hong Kong Ltd grew its stake in Quanex Building Products by 67.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 3,247 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,303 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Quanex Building Products by 115.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,987 shares of the construction company’s stock worth $40,000 after purchasing an additional 2,137 shares during the period. Finally, Ameritas Investment Company LLC acquired a new stake in Quanex Building Products during the fourth quarter worth approximately $90,000. Institutional investors own 96.60% of the company’s stock.
Shares of Quanex Building Products stock opened at $13.67 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.98 and a current ratio of 2.93. Quanex Building Products Co. has a 52 week low of $7.90 and a 52 week high of $20.42. The stock has a 50 day moving average price of $12.51 and a two-hundred day moving average price of $14.45. The stock has a market capitalization of $410.35 million, a PE ratio of -33.34 and a beta of 1.55.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.08 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.32 dividend on an annualized basis and a yield of 2.34%. Quanex Building Products’s dividend payout ratio (DPR) is presently 33.68%.
Several equities research analysts recently commented on NX shares. Sidoti decreased their target price on Quanex Building Products from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Benchmark started coverage on Quanex Building Products in a research note on Thursday, April 2nd. They set a “buy” rating and a $13.00 target price for the company. TheStreet cut Quanex Building Products from a “c-” rating to a “d+” rating in a research note on Monday, March 30th. Finally, Zacks Investment Research raised Quanex Building Products from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, May 29th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Quanex Building Products currently has an average rating of “Buy” and a consensus target price of $16.00.
Quanex Building Products Company Profile
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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