Victory Capital Management Inc. Sells 15,589 Shares of Quanex Building Products Corporation (NYSE:NX)

Key Points

• Victory Capital Management Inc. reduced its stake in Quanex Building Products by 11.1%, now owning 125,213 shares valued at $2.3 million.
• Institutional investors hold 97.48% of Quanex Building Products stock, with other hedge funds increasing their positions significantly during the last quarter.
• Quanex Building Products reported earnings of $0.60 per share in its latest quarter, exceeding estimates, with a revenue of $452.48 million.

Victory Capital Management Inc. lessened its position in shares of Quanex Building Products Corporation (NYSE:NX - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,213 shares of the construction company's stock after selling 15,589 shares during the period. Victory Capital Management Inc. owned 0.27% of Quanex Building Products worth $2,328,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NX. Deprince Race & Zollo Inc. raised its position in Quanex Building Products by 716.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company's stock worth $26,942,000 after acquiring an additional 975,324 shares during the period. Balyasny Asset Management L.P. grew its stake in Quanex Building Products by 442.5% in the 4th 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 in the last quarter. Ameriprise Financial Inc. grew its stake in Quanex Building Products by 29.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company's stock worth $48,190,000 after buying an additional 449,646 shares in the last quarter. SG Capital Management LLC purchased a new position in Quanex Building Products in the 4th quarter worth approximately $3,665,000. Finally, ExodusPoint Capital Management LP boosted its stake in shares of Quanex Building Products by 301.9% in the 4th quarter. ExodusPoint Capital Management LP now owns 140,986 shares of the construction company's stock valued at $3,418,000 after purchasing an additional 105,907 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Trading Up 0.5%

Shares of Quanex Building Products stock traded up $0.09 during trading on Friday, reaching $19.57. The company's stock had a trading volume of 341,173 shares, compared to its average volume of 455,589. The firm's 50-day moving average is $18.99 and its two-hundred day moving average is $19.28. Quanex Building Products Corporation has a 52-week low of $15.30 and a 52-week high of $32.23. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.75. The company has a market cap of $899.65 million, a price-to-earnings ratio of 33.23, a PEG ratio of 0.54 and a beta of 1.03.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings data 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 net margin of 1.05% and a return on equity of 10.02%. The business had revenue of $452.48 million during the quarter, compared to analyst estimates of $440.05 million. On average, sell-side analysts anticipate that Quanex Building Products Corporation will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Quanex Building Products's dividend 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.