Quanex Building Products Corporation $NX Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Quanex Building Products by 42.1%, holding 392,399 shares worth approximately $7.30 million after acquiring additional shares in the first quarter.
• Quanex Building Products recently reported an earnings per share (EPS) of $0.60, exceeding analysts' expectations of $0.48, with a revenue of $452.48 million for the quarter.
• The company announced a quarterly dividend of $0.08 per share, which offers an annualized yield of 1.5% and reflects a dividend payout ratio of 54.24%.

Russell Investments Group Ltd. increased its stake in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 42.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,399 shares of the construction company's stock after purchasing an additional 116,311 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.83% of Quanex Building Products worth $7,295,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co grew its holdings 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 worth $1,097,000 after purchasing an additional 562 shares during the last quarter. Hancock Whitney Corp increased its position in Quanex Building Products by 5.1% during the 4th quarter. Hancock Whitney Corp now owns 12,672 shares of the construction company's stock valued at $307,000 after buying an additional 612 shares in the last quarter. SummerHaven Investment Management LLC raised its stake 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 buying 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 worth $710,000 after acquiring an additional 997 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 worth $298,000 after acquiring an additional 997 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

NYSE:NX traded up $1.6550 during midday trading on Friday, hitting $22.4850. The company's stock had a trading volume of 436,277 shares, compared to its average volume of 388,604. Quanex Building Products Corporation has a fifty-two week low of $15.30 and a fifty-two week high of $32.23. 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 firm has a market cap of $1.03 billion, a P/E ratio of 38.11, a P/E/G ratio of 0.57 and a beta of 1.04. The firm's 50 day moving average is $19.78 and its 200-day moving average is $19.04.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.12. The company had revenue of $452.48 million for the quarter, compared to the consensus estimate of $440.05 million. Quanex Building Products had a return on equity of 10.02% and a net margin of 1.05%. Quanex Building Products has set its FY 2025 guidance at EPS. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, June 16th. Quanex Building Products's dividend payout ratio is currently 54.24%.

Analyst Ratings Changes

Separately, Zacks Research raised shares of 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 given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.00.

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.