Vanguard Group Inc. Cuts Stock Holdings in Quanex Building Products Corporation $NX

Key Points

• Vanguard Group Inc. reduced its stake in Quanex Building Products Corporation by 1.7%, selling 88,016 shares, and now owns approximately 5.18 million shares valued at $96.29 million.
• Several other institutional investors increased their positions in Quanex, with Ameriprise Financial Inc. boosting its stake by 29.2%, and Balyasny Asset Management increasing its ownership by an impressive 442.5%.
• The company's stock has received a "Moderate Buy" consensus rating from analysts, with an average target price of $38.00 following a recent earnings report that beat consensus estimates.

Vanguard Group Inc. lessened its position in Quanex Building Products Corporation (NYSE:NX - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,179,831 shares of the construction company's stock after selling 88,016 shares during the quarter. Vanguard Group Inc. owned 10.97% of Quanex Building Products worth $96,293,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vestcor Inc lifted its holdings in shares of Quanex Building Products by 46.7% in the 1st quarter. Vestcor Inc now owns 28,400 shares of the construction company's stock worth $528,000 after acquiring an additional 9,040 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of Quanex Building Products by 241.7% in the 1st quarter. XTX Topco Ltd now owns 38,110 shares of the construction company's stock worth $708,000 after acquiring an additional 26,956 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in shares of Quanex Building Products by 195.4% in the 1st quarter. GSA Capital Partners LLP now owns 55,313 shares of the construction company's stock worth $1,028,000 after acquiring an additional 36,586 shares during the last quarter. Bastion Asset Management Inc. purchased a new position in Quanex Building Products in the 1st quarter worth about $2,460,000. Finally, First Pacific Advisors LP lifted its holdings in Quanex Building Products by 78.1% during the 1st quarter. First Pacific Advisors LP now owns 133,678 shares of the construction company's stock valued at $2,485,000 after buying an additional 58,621 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Trading Down 2.4%

NX traded down $0.53 on Thursday, reaching $21.38. 386,556 shares of the company traded hands, compared to its average volume of 386,197. Quanex Building Products Corporation has a one year low of $15.30 and a one year high of $32.23. The firm has a fifty day simple moving average of $20.02 and a two-hundred day simple moving average of $19.06. The company has a market cap of $983.02 million, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 0.59 and a beta of 1.04. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.75.

Quanex Building Products (NYSE:NX - Get Free Report) last announced 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 analyst estimates of $440.05 million. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, 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 announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Quanex Building Products's dividend payout ratio (DPR) is 54.24%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Quanex Building Products to a "hold" rating in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Quanex Building Products currently has a consensus rating of "Moderate Buy" and an average 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.