Quanex Building Products Corporation (NYSE:NX) Stake Reduced by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its stake in Quanex Building Products Corporation (NYSE:NX - Free Report) by 10.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 244,618 shares of the construction company's stock after selling 28,000 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.52% of Quanex Building Products worth $4,547,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NX. Sterling Capital Management LLC increased its holdings in shares of Quanex Building Products by 833.6% in 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 Quanex Building Products in the 4th quarter worth about $44,000. GAMMA Investing LLC increased its stake 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 valued at $49,000 after purchasing an additional 1,350 shares during the period. Assetmark Inc. increased its stake in shares of Quanex Building Products by 805.8% in the fourth quarter. Assetmark Inc. now owns 6,060 shares of the construction company's stock valued at $147,000 after purchasing an additional 5,391 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Quanex Building Products during the fourth quarter worth approximately $195,000. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Stock Performance

NX stock traded up $0.21 on Wednesday, reaching $18.74. The company's stock had a trading volume of 254,950 shares, compared to its average volume of 515,646. Quanex Building Products Corporation has a 52 week low of $15.30 and a 52 week high of $34.97. 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 company has a market capitalization of $861.35 million, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.01. The firm has a fifty day moving average of $17.56 and a two-hundred day moving average of $20.64.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products had a return on equity of 10.02% and a net margin of 1.05%. As a group, analysts predict that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given 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 yield of 1.71%. Quanex Building Products's dividend payout ratio (DPR) is 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.