Charles Schwab Investment Management Inc. Increases Holdings in Quanex Building Products Corporation $NX

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Quanex Building Products by 7.7%, now holding approximately 1.60% of the company with a value of $14,032,000.
• Investment analysts have rated Quanex Building Products with a consensus of "Moderate Buy" and set a price target of $38.00, reflecting positive expectations for the stock's performance.
• The company reported earnings of $0.60 per share in its recent quarterly results, surpassing analyst estimates, and is expected to post 2.18 earnings per share for the current fiscal year.

Charles Schwab Investment Management Inc. lifted its position in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 754,805 shares of the construction company's stock after buying an additional 54,187 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.60% of Quanex Building Products worth $14,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its stake in Quanex Building Products by 1.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 45,277 shares of the construction company's stock valued at $1,097,000 after purchasing an additional 562 shares in the last quarter. Hancock Whitney Corp grew its holdings in shares of Quanex Building Products by 5.1% during the fourth quarter. Hancock Whitney Corp now owns 12,672 shares of the construction company's stock worth $307,000 after purchasing an additional 612 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Quanex Building Products by 2.4% in the first quarter. SummerHaven Investment Management LLC now owns 29,431 shares of the construction company's stock valued at $547,000 after acquiring an additional 685 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Quanex Building Products by 3.5% in the fourth quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company's stock valued at $710,000 after acquiring an additional 997 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Quanex Building Products by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company's stock valued at $298,000 after buying an additional 997 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Quanex Building Products to a "hold" rating in a research 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. Based on data from MarketBeat, Quanex Building Products presently has an average rating of "Moderate Buy" and a consensus target price of $38.00.

Quanex Building Products Price Performance

NYSE NX traded down $0.10 during trading hours on Friday, hitting $21.27. The company had a trading volume of 350,823 shares, compared to its average volume of 376,671. Quanex Building Products Corporation has a 52 week low of $15.30 and a 52 week high of $32.23. The firm has a 50 day simple moving average of $20.09 and a 200 day simple moving average of $19.05. 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 firm has a market capitalization of $977.78 million, a price-to-earnings ratio of 36.05, a PEG ratio of 0.58 and a beta of 1.04.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its earnings results 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 business had revenue of $452.48 million during the quarter, compared to the consensus estimate of $440.05 million. Quanex Building Products has set its FY 2025 guidance at EPS. Equities research analysts expect that Quanex Building Products Corporation will post 2.18 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently declared 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. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. Quanex Building Products's payout ratio is currently 54.24%.

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.