Invesco Ltd. Raises Stock Holdings in Quanex Building Products Corporation $NX

Key Points

• Invesco Ltd. increased its stake in Quanex Building Products by 23.2% during the first quarter, bringing its total ownership to 224,487 shares valued at approximately $4.17 million.
• Several large investors significantly increased their positions in Quanex, with GAMMA Investing's stake rising by 106.5% and Signaturefd LLC's stake soaring by 25,254.5% in the same period.
• Quanex Building Products reported earnings of $0.60 per share, exceeding expectations, and had revenues of $452.48 million, which were also above the consensus estimates.

Invesco Ltd. boosted its position in Quanex Building Products Corporation (NYSE:NX - Free Report) by 23.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 224,487 shares of the construction company's stock after acquiring an additional 42,216 shares during the period. Invesco Ltd. owned 0.48% of Quanex Building Products worth $4,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NX. Ameriprise Financial Inc. grew its holdings in Quanex Building Products by 29.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company's stock valued at $48,190,000 after buying an additional 449,646 shares in the last quarter. Segall Bryant & Hamill LLC grew its holdings in Quanex Building Products by 31.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,367,758 shares of the construction company's stock valued at $25,427,000 after buying an additional 324,548 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in Quanex Building Products by 716.4% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company's stock valued at $26,942,000 after buying an additional 975,324 shares in the last quarter. Systematic Financial Management LP grew its holdings in Quanex Building Products by 2.8% during the 4th quarter. Systematic Financial Management LP now owns 1,050,230 shares of the construction company's stock valued at $25,458,000 after buying an additional 28,228 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in Quanex Building Products by 442.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 891,457 shares of the construction company's stock valued at $21,609,000 after buying an additional 727,125 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Price Performance

Shares of NYSE NX traded down $0.70 during midday trading on Wednesday, hitting $20.09. 494,632 shares of the company's stock were exchanged, compared to its average volume of 336,370. Quanex Building Products Corporation has a 12-month low of $15.30 and a 12-month high of $32.23. The company has a current ratio of 2.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.75. The company has a market cap of $923.31 million, a price-to-earnings ratio of 34.04, a PEG ratio of 0.58 and a beta of 0.99. The business's fifty day moving average price is $20.21 and its two-hundred day moving average price is $19.02.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.48 by $0.12. Quanex Building Products had a return on equity of 10.02% and a net margin of 1.05%.The company had revenue of $452.48 million during the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. Quanex Building Products's payout ratio is presently 54.24%.

Analysts Set New Price Targets

Separately, Zacks Research raised Quanex Building Products to a "hold" rating in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $38.00.

About Quanex Building Products

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.