Nuveen LLC Acquires Shares of 183,596 Quanex Building Products Corporation $NX

Key Points

• Nuveen LLC has acquired a new stake in Quanex Building Products Corporation, purchasing approximately $3.41 million worth of shares in the first quarter, which represents about 0.39% of the company's stock.
• Several institutional investors, including Janney Montgomery Scott LLC and GAMMA Investing LLC, have increased their holdings in Quanex, contributing to a total institutional ownership of 97.48%.
• Quanex Building Products announced a quarterly dividend of $0.08, yielding 1.5%, with a payout ratio of 54.24%, indicating stability and commitment to returning value to shareholders.

Nuveen LLC acquired a new position in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 183,596 shares of the construction company's stock, valued at approximately $3,413,000. Nuveen LLC owned 0.39% of Quanex Building Products at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SummerHaven Investment Management LLC lifted its stake in shares of Quanex Building Products by 2.4% during the first quarter. SummerHaven Investment Management LLC now owns 29,431 shares of the construction company's stock worth $547,000 after buying an additional 685 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Quanex Building Products by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company's stock worth $710,000 after buying an additional 997 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Quanex Building Products by 6.6% during the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company's stock worth $298,000 after buying an additional 997 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Quanex Building Products by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 23,598 shares of the construction company's stock worth $572,000 after buying an additional 1,048 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Quanex Building Products by 5.1% during the fourth quarter. MetLife Investment Management LLC now owns 27,074 shares of the construction company's stock worth $656,000 after buying an additional 1,317 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock traded down $0.49 during trading on Tuesday, hitting $20.79. 370,660 shares of the company's stock were exchanged, compared to its average volume of 336,370. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.26 and a current ratio of 2.41. The business has a 50-day simple moving average of $20.18 and a 200-day simple moving average of $19.01. Quanex Building Products Corporation has a 52-week low of $15.30 and a 52-week high of $32.23. The stock has a market capitalization of $955.49 million, a price-to-earnings ratio of 35.23, a PEG ratio of 0.58 and a beta of 0.99.

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

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Quanex Building Products's payout ratio is presently 54.24%.

Wall Street Analysts Forecast Growth

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

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.