Thrivent Financial for Lutherans lifted its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,793 shares of the construction company’s stock after acquiring an additional 1,388 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Quanex Building Products worth $280,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in shares of Quanex Building Products by 47.3% in the first quarter. Wells Fargo & Company MN now owns 2,291,475 shares of the construction company’s stock valued at $23,098,000 after buying an additional 736,197 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Quanex Building Products during the 1st quarter worth approximately $108,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Quanex Building Products by 48.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,685 shares of the construction company’s stock worth $168,000 after acquiring an additional 5,442 shares during the period. Alliancebernstein L.P. grew its position in Quanex Building Products by 24.8% in the first quarter. Alliancebernstein L.P. now owns 44,935 shares of the construction company’s stock valued at $453,000 after acquiring an additional 8,918 shares in the last quarter. Finally, AJO LP raised its stake in shares of Quanex Building Products by 47.6% during the first quarter. AJO LP now owns 391,390 shares of the construction company’s stock valued at $3,944,000 after purchasing an additional 126,246 shares during the period. 96.60% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on NX. Sidoti dropped their target price on Quanex Building Products from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Zacks Investment Research upgraded Quanex Building Products from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Friday, May 29th. Benchmark initiated 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. Finally, TheStreet lowered shares of Quanex Building Products from a “c-” rating to a “d+” rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $16.00.
Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, June 4th. The construction company reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.14. Quanex Building Products had a negative net margin of 1.58% and a positive return on equity of 10.49%. The firm had revenue of $187.50 million for the quarter, compared to the consensus estimate of $189.80 million. During the same period last year, the firm posted $0.19 EPS. Quanex Building Products’s quarterly revenue was down 14.0% compared to the same quarter last year. As a group, research analysts anticipate that Quanex Building Products Co. will post 1 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.32 annualized dividend and a dividend yield of 2.34%. Quanex Building Products’s payout ratio is 33.68%.
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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