Comerica Bank Sells 35,396 Shares of Quanex Building Products Corporation $NX

Key Points

• Comerica Bank has significantly reduced its stake in Quanex Building Products Corporation by selling 35,396 shares, lowering their ownership by 42.5% to 47,796 shares valued at approximately $889,000.
• Quanex reported a quarterly EPS of $0.69, falling short of analysts' expectations of $0.85, while revenue reached $495.27 million, slightly above estimates.
• The company announced a quarterly dividend of $0.08 per share, with an annualized yield of 1.8%, reflecting a dividend payout ratio of 54.24%.

Comerica Bank lowered its stake in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 42.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,796 shares of the construction company's stock after selling 35,396 shares during the period. Comerica Bank owned 0.10% of Quanex Building Products worth $889,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NX. Price T Rowe Associates Inc. MD raised its stake in Quanex Building Products by 23.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,892 shares of the construction company's stock valued at $434,000 after acquiring an additional 3,411 shares during the period. The Manufacturers Life Insurance Company raised its stake in Quanex Building Products by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,598 shares of the construction company's stock valued at $572,000 after acquiring an additional 1,048 shares during the period. Northern Trust Corp raised its stake in Quanex Building Products by 10.2% in the 4th quarter. Northern Trust Corp now owns 490,246 shares of the construction company's stock valued at $11,884,000 after acquiring an additional 45,193 shares during the period. Ameriprise Financial Inc. raised its stake in Quanex Building Products by 29.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company's stock valued at $48,190,000 after acquiring an additional 449,646 shares during the period. Finally, Algert Global LLC bought a new stake in Quanex Building Products in the 4th quarter valued at $213,000. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

Shares of NYSE NX opened at $18.19 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.41 and a quick ratio of 1.26. The stock's fifty day moving average price is $20.23 and its two-hundred day moving average price is $18.97. Quanex Building Products Corporation has a one year low of $15.30 and a one year high of $32.23. The firm has a market cap of $835.96 million, a price-to-earnings ratio of -2.92, a P/E/G ratio of 0.57 and a beta of 0.99.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The construction company reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.16). Quanex Building Products had a negative net margin of 15.45% and a positive return on equity of 9.75%. The firm had revenue of $495.27 million during the quarter, compared to analyst estimates of $491.65 million. During the same period in the prior year, the company earned $0.73 earnings per share. Quanex Building Products has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 16th. Quanex Building Products's dividend payout ratio is currently 54.24%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Quanex Building Products to a "hold" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.00.

Quanex Building Products 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.

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