Wedge Capital Management L L P NC Cuts Stake in Quanex Building Products Co. (NYSE:NX)

Wedge Capital Management L L P NC decreased its holdings in Quanex Building Products Co. (NYSE:NX) by 9.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 174,900 shares of the construction company’s stock after selling 18,328 shares during the period. Wedge Capital Management L L P NC owned approximately 0.37% of Quanex Building Products worth $3,251,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in NX. Barclays PLC boosted its position in Quanex Building Products by 391.4% during the 3rd quarter. Barclays PLC now owns 83,794 shares of the construction company’s stock valued at $2,325,000 after buying an additional 66,742 shares during the period. Vanguard Group Inc. increased its stake in shares of Quanex Building Products by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,267,847 shares of the construction company’s stock worth $127,693,000 after acquiring an additional 51,142 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Quanex Building Products by 54.4% in the 4th quarter. Deutsche Bank AG now owns 35,859 shares of the construction company’s stock worth $869,000 after acquiring an additional 12,628 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Quanex Building Products in the 4th quarter worth about $195,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Quanex Building Products by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,598 shares of the construction company’s stock worth $572,000 after acquiring an additional 1,048 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Up 0.8%

NYSE:NX opened at $19.04 on Tuesday. The firm has a 50-day simple moving average of $17.25 and a two-hundred day simple moving average of $21.01. Quanex Building Products Co. has a fifty-two week low of $15.30 and a fifty-two week high of $34.97. The firm has a market cap of $898.95 million, a P/E ratio of 17.00, a P/E/G ratio of 0.68 and a beta of 1.01. 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 (NYSE:NX) last announced its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. The firm had revenue of $452.48 million during the quarter, compared to analyst estimates of $440.05 million. Analysts predict that Quanex Building Products Co. will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, June 16th. Quanex Building Products’s payout ratio is 54.24%.

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.