Millennium Management LLC Cuts Stake in Quanex Building Products Co. (NYSE:NX)

Millennium Management LLC lowered its position in Quanex Building Products Co. (NYSE:NX - Free Report) by 87.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,326 shares of the construction company's stock after selling 166,142 shares during the period. Millennium Management LLC's holdings in Quanex Building Products were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in Quanex Building Products by 779.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company's stock valued at $47,424,000 after acquiring an additional 1,733,932 shares in the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Quanex Building Products by 716.4% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company's stock worth $26,942,000 after purchasing an additional 975,324 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Quanex Building Products by 442.5% in 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 during the period. Ameriprise Financial Inc. boosted its stake in shares of Quanex Building Products by 29.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company's stock worth $48,190,000 after buying an additional 449,646 shares during the last quarter. Finally, Impax Asset Management Group plc acquired a new stake in shares of Quanex Building Products during the 4th quarter worth approximately $8,187,000. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Price Performance

Shares of NYSE:NX traded down $0.04 during trading on Thursday, reaching $19.89. 387,756 shares of the company's stock traded hands, compared to its average volume of 513,529. The company has a 50-day simple moving average of $17.37 and a 200-day simple moving average of $21.00. Quanex Building Products Co. has a fifty-two week low of $15.30 and a fifty-two week high of $34.97. The firm has a market cap of $938.99 million, a PE ratio of 17.76, a P/E/G ratio of 0.68 and a beta of 1.01. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73.

Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, beating 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 company had revenue of $452.48 million during the quarter, compared to the consensus estimate of $440.05 million. As a group, analysts predict 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. This represents a $0.32 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Monday, June 16th. Quanex Building Products's payout ratio is 54.24%.

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.