Public Sector Pension Investment Board Boosts Stake in Quanex Building Products Corporation $NX

Key Points

• The Public Sector Pension Investment Board increased its stake in Quanex Building Products Corporation by 27.7%, owning 149,676 shares after acquiring an additional 32,492 shares in the first quarter.
• Quanex Building Products has received a consensus rating of Moderate Buy from analysts, with a price target set at $38.00.
• The company reported a solid quarterly performance, with earnings per share of $0.60, exceeding expectations, and revenues of $452.48 million against anticipated figures of $440.05 million.

Public Sector Pension Investment Board boosted its stake in Quanex Building Products Corporation (NYSE:NX - Free Report) by 27.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 149,676 shares of the construction company's stock after acquiring an additional 32,492 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Quanex Building Products worth $2,782,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Deprince Race & Zollo Inc. lifted its holdings in shares of Quanex Building Products by 716.4% in 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 purchasing an additional 975,324 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Quanex Building Products by 442.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 891,457 shares of the construction company's stock worth $21,609,000 after buying an additional 727,125 shares during the period. Ameriprise Financial Inc. lifted its stake in 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 valued at $48,190,000 after buying an additional 449,646 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Quanex Building Products by 31.1% in the first 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 during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Quanex Building Products in the first quarter valued at approximately $3,413,000. Hedge funds and other institutional investors own 97.48% of the company's stock.

Analyst Ratings Changes

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 issued a Hold rating to the company's stock. According to data from MarketBeat.com, Quanex Building Products has a consensus rating of "Moderate Buy" and a consensus target price of $38.00.

Quanex Building Products Stock Performance

Shares of NYSE:NX traded up $1.6550 during trading on Friday, reaching $22.4850. The company had a trading volume of 436,277 shares, compared to its average volume of 388,604. 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 stock's fifty day moving average price is $19.78 and its 200 day moving average price is $19.04. Quanex Building Products Corporation has a fifty-two week low of $15.30 and a fifty-two week high of $32.23. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 0.57 and a beta of 1.04.

Quanex Building Products (NYSE:NX - Get Free Report) last posted 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. The firm had revenue of $452.48 million for the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products had a net margin of 1.05% and a return on equity of 10.02%. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, June 16th. Quanex Building Products's dividend payout ratio is currently 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.