Illinois Municipal Retirement Fund Invests $488,000 in Quanex Building Products Corporation $NX

Illinois Municipal Retirement Fund purchased a new stake in shares of Quanex Building Products Corporation (NYSE:NX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,164 shares of the construction company’s stock, valued at approximately $488,000. Illinois Municipal Retirement Fund owned 0.06% of Quanex Building Products at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NX. Danske Bank A S purchased a new position in Quanex Building Products during the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Quanex Building Products by 199.9% in the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,415 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Quanex Building Products in the fourth quarter worth $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Quanex Building Products in the fourth quarter worth $42,000. Finally, Quarry LP grew its holdings in shares of Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after buying an additional 2,136 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NYSE:NX opened at $18.59 on Friday. The firm has a market cap of $854.03 million, a price-to-earnings ratio of -3.30, a P/E/G ratio of 0.79 and a beta of 0.91. Quanex Building Products Corporation has a 1 year low of $11.04 and a 1 year high of $22.98. The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $17.44 and a 200 day simple moving average of $18.55.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.The firm had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. As a group, sell-side analysts predict that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. Quanex Building Products’s payout ratio is currently -5.68%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NX shares. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Friday, July 17th. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.00.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.