Ameriprise Financial Inc. Purchases 121,323 Shares of Quanex Building Products Corporation $NX

Key Points

• Ameriprise Financial Inc. increased its stake in Quanex Building Products Corporation by 6.1%, acquiring 121,323 shares, bringing its total ownership to approximately 4.47%, valued at $39.2 million.
• Recent institutional investor activity saw Deprince Race & Zollo Inc. enhance its holdings by 716.4%, while Balyasny Asset Management grew its stake by 442.5% in the last quarter.
• Quanex Building Products reported a quarterly earnings per share of $0.60, exceeding analysts' estimates, and has set a FY 2025 guidance with current year's expected earnings pegged at 2.18 EPS.

Ameriprise Financial Inc. increased its stake in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,109,352 shares of the construction company's stock after buying an additional 121,323 shares during the quarter. Ameriprise Financial Inc. owned 4.47% of Quanex Building Products worth $39,212,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Deprince Race & Zollo Inc. grew its position in Quanex Building Products by 716.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company's stock worth $26,942,000 after purchasing an additional 975,324 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Quanex Building Products by 442.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 891,457 shares of the construction company's stock valued at $21,609,000 after acquiring an additional 727,125 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Quanex Building Products by 31.1% in the first quarter. Segall Bryant & Hamill LLC now owns 1,367,758 shares of the construction company's stock valued at $25,427,000 after acquiring an additional 324,548 shares in the last quarter. Nuveen LLC bought a new position in Quanex Building Products in the 1st quarter valued at $3,413,000. Finally, SG Capital Management LLC bought a new position in Quanex Building Products in the 4th quarter valued at $3,665,000. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

Shares of NX stock traded down $0.70 on Wednesday, hitting $20.09. 494,632 shares of the stock were exchanged, compared to its average volume of 336,370. The company has a current ratio of 2.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $923.31 million, a PE ratio of 34.04, a P/E/G ratio of 0.58 and a beta of 0.99. Quanex Building Products Corporation has a one year low of $15.30 and a one year high of $32.23. The firm's 50 day moving average is $20.21 and its two-hundred day moving average is $19.02.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its earnings results on Thursday, June 5th. The construction company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. The firm had revenue of $452.48 million during the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products had a net margin of 1.05% and a return on equity of 10.02%. Quanex Building Products has set its FY 2025 guidance at EPS. Sell-side analysts expect that Quanex Building Products Corporation 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 Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.6%. Quanex Building Products's dividend payout ratio (DPR) is 54.24%.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Quanex Building Products to a "hold" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Quanex Building Products presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

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.