Arrowstreet Capital Limited Partnership Raises Stake in Quanex Building Products Corporation $NX

Key Points

• Arrowstreet Capital increased its Quanex Building Products stake by 961.7% in the first quarter, acquiring 536,949 additional shares for a total holding of 592,785 shares valued at approximately $10.65 million.
• Institutional investors own 97.48% of Quanex’s outstanding stock. Analyst sentiment remains mixed, with one Buy, one Hold and one Sell rating, resulting in a consensus “Hold” rating and an average price target of $28.
• Quanex reported quarterly revenue of $462.37 million and earnings of $0.25 per share, exceeding analyst estimates. The company also maintains a quarterly dividend of $0.08 per share, equal to a 1.8% annualized yield.

Arrowstreet Capital Limited Partnership boosted its position in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 961.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 592,785 shares of the construction company's stock after acquiring an additional 536,949 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.29% of Quanex Building Products worth $10,652,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Orion Porfolio Solutions LLC grew its stake in shares of Quanex Building Products by 5.6% during the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company's stock worth $218,000 after purchasing an additional 614 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Quanex Building Products by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company's stock valued at $345,000 after buying an additional 754 shares during the last quarter. Hantz Financial Services Inc. raised its stake in 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 buying an additional 1,415 shares in the last quarter. Comerica Bank raised its stake in Quanex Building Products by 3.6% in the fourth quarter. Comerica Bank now owns 47,375 shares of the construction company's stock valued at $729,000 after buying an additional 1,666 shares in the last quarter. Finally, Danske Bank A S purchased a new stake in Quanex Building Products during the 3rd quarter worth about $26,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Quanex Building Products in a report on Friday, July 17th. Zacks Research upgraded shares of Quanex Building Products from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $28.00.

Quanex Building Products Stock Performance

Shares of NX stock opened at $17.83 on Friday. The company has a market cap of $818.98 million, a price-to-earnings ratio of -3.17, a price-to-earnings-growth ratio of 0.77 and a beta of 0.91. The stock has a 50 day simple moving average of $17.57 and a 200-day simple moving average of $18.62. Quanex Building Products Corporation has a 12-month low of $11.04 and a 12-month 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.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share 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. On average, equities analysts forecast that Quanex Building Products Corporation will post 1.66 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. Quanex Building Products's payout ratio is -5.68%.

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.

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