Deutsche Bank AG Acquires New Holdings in Quanex Building Products Corporation $NX

Key Points

• Deutsche Bank acquired 57,736 shares of Quanex Building Products in the second quarter, worth approximately $1.08 million and representing about 0.13% of the company. Institutional investors collectively own 97.48% of NX.
• Analyst sentiment is mixed, with one Buy, one Hold, and one Sell rating; MarketBeat reports a consensus Hold rating and an average price target of $28.00.
• Quanex exceeded quarterly earnings expectations, reporting $0.25 in EPS versus a $0.22 estimate and $462.37 million in revenue. The company also declared a quarterly dividend of $0.08 per share, equivalent to a 1.6% annualized yield.

Deutsche Bank AG bought a new stake in Quanex Building Products Corporation (NYSE:NX - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 57,736 shares of the construction company's stock, valued at approximately $1,075,000. Deutsche Bank AG owned about 0.13% of Quanex Building Products at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Danske Bank A S acquired a new position in shares of Quanex Building Products in the 3rd quarter worth approximately $26,000. Hantz Financial Services Inc. raised its position 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 purchasing an additional 1,415 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Quanex Building Products during the fourth quarter worth $35,000. Meeder Asset Management Inc. purchased a new position in shares of Quanex Building Products during the fourth quarter worth $42,000. Finally, Quarry LP boosted its position in shares of Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company's stock worth $53,000 after buying an additional 2,136 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NX. Benchmark reissued a "buy" rating on shares of Quanex Building Products in a research note on Thursday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Quanex Building Products in a research report on Friday, July 17th. Finally, 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 equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Quanex Building Products currently has a consensus rating of "Hold" and an average price target of $28.00.

Quanex Building Products Price Performance

NX stock opened at $19.45 on Monday. The business's 50-day moving average is $18.86 and its two-hundred day moving average is $18.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.28 and a quick ratio of 1.23. The firm has a market capitalization of $893.34 million, a P/E ratio of -3.45, a P/E/G ratio of 0.84 and a beta of 0.92. Quanex Building Products Corporation has a 1 year low of $11.04 and a 1 year high of $22.98.

Quanex Building Products (NYSE:NX - Get Free Report) last released its earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.03. The firm had revenue of $462.37 million for the quarter, compared to analyst estimates of $459.27 million. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. Analysts anticipate that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 15th. Quanex Building Products's dividend payout ratio (DPR) is presently -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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