Vanguard Group Inc. Sells 83,848 Shares of Quanex Building Products Co. (NYSE:NX)

Vanguard Group Inc. lowered its position in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,684,318 shares of the construction company's stock after selling 83,848 shares during the period. Vanguard Group Inc. owned about 11.16% of Quanex Building Products worth $103,787,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NX. LSV Asset Management lifted its holdings in Quanex Building Products by 6,352.9% during the 1st quarter. LSV Asset Management now owns 548,496 shares of the construction company's stock worth $11,513,000 after buying an additional 539,996 shares during the period. Comerica Bank acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at about $10,045,000. Envestnet Asset Management Inc. lifted its stake in shares of Quanex Building Products by 1,379.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 263,428 shares of the construction company's stock valued at $253,000 after purchasing an additional 245,625 shares during the period. Millennium Management LLC lifted its stake in shares of Quanex Building Products by 134.8% in the 2nd quarter. Millennium Management LLC now owns 286,579 shares of the construction company's stock valued at $6,520,000 after purchasing an additional 164,551 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Quanex Building Products by 13.8% in the 1st quarter. Ameriprise Financial Inc. now owns 1,344,920 shares of the construction company's stock valued at $28,956,000 after purchasing an additional 162,588 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Trading Up 1.6 %

Shares of NYSE:NX traded up $0.61 during midday trading on Friday, reaching $38.33. The company's stock had a trading volume of 259,160 shares, compared to its average volume of 151,969. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 2.27. The firm has a 50 day moving average price of $34.65 and a two-hundred day moving average price of $31.36. Quanex Building Products Co. has a fifty-two week low of $18.71 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The construction company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.06. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. The business had revenue of $239.16 million for the quarter, compared to the consensus estimate of $232.90 million. As a group, analysts forecast that Quanex Building Products Co. will post 2.4 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Thursday, March 14th. Quanex Building Products's dividend payout ratio (DPR) is currently 12.17%.

Wall Street Analyst Weigh In

Separately, Benchmark boosted their price objective on Quanex Building Products from $33.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, December 19th.

Insider Buying and Selling

In other Quanex Building Products news, SVP Paul Cornett sold 3,064 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.72, for a total transaction of $115,574.08. Following the completion of the sale, the senior vice president now directly owns 43,902 shares of the company's stock, valued at approximately $1,655,983.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.15% of the stock is owned by company insiders.

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.