Empowered Funds LLC Grows Stock Holdings in Quanex Building Products Co. (NYSE:NX)

Empowered Funds LLC lifted its position in shares of Quanex Building Products Co. (NYSE:NX) by 14.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 248,813 shares of the construction company’s stock after purchasing an additional 31,870 shares during the period. Empowered Funds LLC owned 0.53% of Quanex Building Products worth $6,905,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in shares of Quanex Building Products by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company’s stock worth $598,000 after purchasing an additional 304 shares during the period. GAMMA Investing LLC lifted its holdings in Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the period. SummerHaven Investment Management LLC boosted its position in Quanex Building Products by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock valued at $787,000 after acquiring an additional 474 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Quanex Building Products by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock worth $669,000 after acquiring an additional 800 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Quanex Building Products by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock worth $1,702,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

NX has been the topic of several research reports. StockNews.com upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Benchmark restated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Stock Performance

Shares of NX opened at $29.95 on Friday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.73 and a beta of 1.25. The business’s fifty day simple moving average is $28.74 and its two-hundred day simple moving average is $29.60. Quanex Building Products Co. has a 12 month low of $24.85 and a 12 month high of $39.31. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The company had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Research analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.07%. Quanex Building Products’s payout ratio is presently 14.22%.

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.