First Pacific Advisors LP Grows Stake in Quanex Building Products Corporation $NX

First Pacific Advisors LP grew its holdings in Quanex Building Products Corporation (NYSE:NX) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 155,000 shares of the construction company’s stock after buying an additional 21,322 shares during the quarter. First Pacific Advisors LP owned approximately 0.34% of Quanex Building Products worth $2,930,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in Quanex Building Products by 25.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 20,060 shares of the construction company’s stock worth $379,000 after buying an additional 4,009 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Quanex Building Products by 3.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,355,294 shares of the construction company’s stock valued at $67,509,000 after purchasing an additional 110,268 shares during the period. CWM LLC lifted its stake in shares of Quanex Building Products by 104.5% in the 2nd quarter. CWM LLC now owns 1,468 shares of the construction company’s stock valued at $28,000 after purchasing an additional 750 shares during the period. Inspire Investing LLC lifted its stake in shares of Quanex Building Products by 10.5% in the 2nd quarter. Inspire Investing LLC now owns 20,590 shares of the construction company’s stock valued at $389,000 after purchasing an additional 1,951 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Quanex Building Products by 3.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,136 shares of the construction company’s stock valued at $418,000 after purchasing an additional 698 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insider Transactions at Quanex Building Products

In related news, Director Bradley E. Hughes purchased 6,500 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $15.27 per share, with a total value of $99,255.00. Following the completion of the acquisition, the director owned 6,500 shares of the company’s stock, valued at approximately $99,255. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Quanex Building Products Stock Performance

Shares of NX opened at $14.88 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.20 and a quick ratio of 1.18. Quanex Building Products Corporation has a one year low of $13.11 and a one year high of $32.23. The firm has a market capitalization of $682.83 million, a P/E ratio of -2.39, a PEG ratio of 0.55 and a beta of 0.98. The business has a fifty day moving average of $16.26 and a 200 day moving average of $17.78.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 4th. The construction company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.16). Quanex Building Products had a positive return on equity of 10.48% and a negative net margin of 15.45%.The firm had revenue of $495.27 million during the quarter, compared to the consensus estimate of $491.65 million. During the same period in the previous year, the firm earned $0.73 EPS. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. Quanex Building Products’s payout ratio is currently -5.14%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research note on Wednesday, October 8th. Zacks Research cut Quanex Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 11th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.