Hennessy Advisors Inc. Reduces Stock Position in Quanex Building Products Co. (NYSE:NX)

Hennessy Advisors Inc. lowered its holdings in Quanex Building Products Co. (NYSE:NX - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 244,618 shares of the construction company's stock after selling 28,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.52% of Quanex Building Products worth $4,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in Quanex Building Products by 833.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company's stock worth $34,000 after acquiring an additional 1,267 shares during the period. Federated Hermes Inc. bought a new position in shares of Quanex Building Products in the 4th quarter worth $44,000. GAMMA Investing LLC increased its holdings in shares of Quanex Building Products by 106.5% in the 1st quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company's stock worth $49,000 after buying an additional 1,350 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Quanex Building Products by 805.8% in the 4th quarter. Assetmark Inc. now owns 6,060 shares of the construction company's stock worth $147,000 after buying an additional 5,391 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Quanex Building Products in the 4th quarter worth $195,000. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Price Performance

Shares of NYSE:NX traded down $0.62 during trading on Friday, reaching $19.31. The company had a trading volume of 414,512 shares, compared to its average volume of 516,898. The company has a fifty day moving average of $17.49 and a two-hundred day moving average of $20.78. The stock has a market capitalization of $887.74 million, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. Quanex Building Products Co. has a 12 month low of $15.30 and a 12 month high of $34.97. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. The firm had revenue of $452.48 million for the quarter, compared to analyst estimates of $440.05 million. Equities research analysts forecast that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.66%. Quanex Building Products's dividend payout ratio (DPR) is 54.24%.

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.