Dimensional Fund Advisors LP Acquires 462,992 Shares of Quanex Building Products Corporation $NX

Key Points

• Dimensional Fund Advisors increased its Quanex Building Products stake by 36.2%, acquiring 462,992 additional shares for a total of 1.74 million shares, worth approximately $31.3 million and representing 3.79% of the company.
• Institutional ownership stands at 97.48%, with several other investors also adding to or initiating positions during the first quarter.
• Quanex reported quarterly EPS of $0.25, beating estimates by $0.03, while revenue of $462.37 million slightly exceeded expectations. Analysts have a consensus “Hold” rating and a $28.00 price target; the company also pays a quarterly dividend of $0.08 per share.

Dimensional Fund Advisors LP lifted its holdings in Quanex Building Products Corporation (NYSE:NX - Free Report) by 36.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,741,613 shares of the construction company's stock after purchasing an additional 462,992 shares during the period. Dimensional Fund Advisors LP owned about 3.79% of Quanex Building Products worth $31,296,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Illinois Municipal Retirement Fund bought a new position in Quanex Building Products in the first quarter worth approximately $488,000. Principal Financial Group Inc. boosted its position in Quanex Building Products by 41.7% during the 1st quarter. Principal Financial Group Inc. now owns 308,194 shares of the construction company's stock valued at $5,538,000 after acquiring an additional 90,765 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Quanex Building Products by 6,639.2% in the 1st quarter. Fifth Third Bancorp now owns 43,535 shares of the construction company's stock valued at $782,000 after acquiring an additional 42,889 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Quanex Building Products in the 1st quarter valued at $281,000. Finally, Louisiana State Employees Retirement System bought a new position in shares of Quanex Building Products in the 1st quarter worth $367,000. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $20.83 on Wednesday. Quanex Building Products Corporation has a fifty-two week low of $11.04 and a fifty-two week high of $22.98. The company has a market cap of $956.77 million, a PE ratio of -3.70, a P/E/G ratio of 0.83 and a beta of 0.92. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 2.28. The business has a 50-day simple moving average of $17.65 and a two-hundred day simple moving average of $18.65.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings data on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm had revenue of $462.37 million during 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%. As a group, equities analysts expect that Quanex Building Products Corporation will post 1.66 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 15th. Quanex Building Products's payout ratio is presently -5.68%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Zacks Research upgraded Quanex Building Products from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Weiss Ratings reiterated a "sell (d)" rating on shares of Quanex Building Products in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source