Bastion Asset Management Inc. Purchases Shares of 120,396 Quanex Building Products Corporation (NYSE:NX)

Key Points

• Bastion Asset Management Inc. purchased a new stake in Quanex Building Products, acquiring 120,396 shares valued at approximately $2.46 million, representing about 0.26% of the company.
• Quanex Building Products reported a quarterly earnings per share (EPS) of $0.60, exceeding the consensus estimate by $0.12, along with revenue of $452.48 million for the quarter.
• The company declared a quarterly dividend of $0.08, yielding 1.62% on an annualized basis, with a dividend payout ratio of 54.24%.

Bastion Asset Management Inc. purchased a new stake in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 120,396 shares of the construction company's stock, valued at approximately $2,460,000. Bastion Asset Management Inc. owned approximately 0.26% of Quanex Building Products as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its position in Quanex Building Products by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,438 shares of the construction company's stock worth $399,000 after purchasing an additional 1,885 shares during the period. GAMMA Investing LLC grew its holdings in shares of Quanex Building Products by 106.5% in the first quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company's stock worth $49,000 after acquiring an additional 1,350 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in Quanex Building Products during the first quarter valued at $190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Quanex Building Products by 12.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,573 shares of the construction company's stock valued at $1,686,000 after acquiring an additional 7,805 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Quanex Building Products by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company's stock worth $298,000 after purchasing an additional 997 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock traded up $0.04 during trading hours on Monday, reaching $19.84. 316,425 shares of the stock traded hands, compared to its average volume of 369,702. Quanex Building Products Corporation has a one year low of $15.30 and a one year high of $34.97. The firm has a market capitalization of $911.91 million, a price-to-earnings ratio of 33.62, a P/E/G ratio of 0.54 and a beta of 1.03. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average price of $18.88 and a 200 day moving average price of $19.29.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. The company had revenue of $452.48 million for the quarter, compared to the consensus estimate of $440.05 million. Quanex Building Products had a net margin of 1.05% and a return on equity of 10.02%. On average, equities research analysts expect that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a $0.08 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.61%. Quanex Building Products's dividend payout ratio is currently 54.24%.

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.