Pinnacle Associates Ltd. Has $680,000 Stake in Quanex Building Products Corporation (NYSE:NX)

Key Points

• Pinnacle Associates Ltd. increased its stake in Quanex Building Products by 124.9% in Q1, owning $680,000 worth of the stock after acquiring an additional 20,320 shares.
• Quanex reported a quarterly earnings EPS of $0.60, surpassing estimates and generating revenue of $452.48 million, exceeding expectations of $440.05 million.
• The firm declared a quarterly dividend of $0.08 per share, resulting in an annualized dividend yield of 1.62% and a payout ratio of 54.24%.

Pinnacle Associates Ltd. grew its position in Quanex Building Products Corporation (NYSE:NX - Free Report) by 124.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,592 shares of the construction company's stock after acquiring an additional 20,320 shares during the period. Pinnacle Associates Ltd. owned 0.08% of Quanex Building Products worth $680,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NX. Janney Montgomery Scott LLC raised its position in Quanex Building Products by 9.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,438 shares of the construction company's stock valued at $399,000 after purchasing an additional 1,885 shares during the last quarter. 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 buying an additional 1,350 shares in the last quarter. Johnson Investment Counsel Inc. bought a new position in shares of Quanex Building Products in the first quarter valued at about $190,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Quanex Building Products by 12.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,573 shares of the construction company's stock worth $1,686,000 after buying an additional 7,805 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Quanex Building Products by 6.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company's stock worth $298,000 after acquiring an additional 997 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Trading Up 1.7%

NX opened at $19.76 on Monday. Quanex Building Products Corporation has a 1-year low of $15.30 and a 1-year high of $34.97. The stock has a market capitalization of $908.41 million, a PE ratio of 33.49, a PEG ratio of 0.54 and a beta of 1.03. 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 firm has a 50-day moving average price of $18.85 and a two-hundred day moving average price of $19.30.

Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate 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 business had revenue of $452.48 million for the quarter, compared to analysts' expectations of $440.05 million. As a group, equities analysts anticipate that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Monday, June 16th. 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.

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