Wedge Capital Management L L P NC Grows Stake in Quanex Building Products Co. (NYSE:NX)

Wedge Capital Management L L P NC boosted its stake in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,978 shares of the construction company's stock after acquiring an additional 29,662 shares during the quarter. Wedge Capital Management L L P NC owned 0.69% of Quanex Building Products worth $7,030,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NX. Ritholtz Wealth Management grew its holdings in shares of Quanex Building Products by 12.8% during the third quarter. Ritholtz Wealth Management now owns 18,573 shares of the construction company's stock worth $523,000 after purchasing an additional 2,114 shares during the last quarter. SG Americas Securities LLC bought a new position in Quanex Building Products in the third quarter valued at about $527,000. Summit Global Investments bought a new position in Quanex Building Products in the third quarter valued at about $207,000. Miller Howard Investments Inc. NY bought a new position in Quanex Building Products in the third quarter valued at about $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Quanex Building Products by 30.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,155 shares of the construction company's stock valued at $286,000 after acquiring an additional 2,371 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Stock Down 3.0 %

Shares of NYSE NX traded down $1.05 during mid-day trading on Wednesday, reaching $33.70. 332,392 shares of the company's stock were exchanged, compared to its average volume of 161,853. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.00 and a beta of 1.35. The company has a current ratio of 2.27, a quick ratio of 1.31 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $35.67 and a 200 day simple moving average of $32.14. Quanex Building Products Co. has a twelve month low of $18.71 and a twelve month high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its earnings results on Thursday, March 7th. The construction company reported $0.18 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $232.90 million. As a group, equities analysts expect that Quanex Building Products Co. will post 2.4 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, March 14th. Quanex Building Products's dividend payout ratio is presently 12.17%.

Insider Activity at Quanex Building Products

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 transaction, the senior vice president now owns 43,902 shares of the company's stock, valued at approximately $1,655,983.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.15% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, Benchmark reiterated a "buy" rating and issued a $38.00 price target on shares of Quanex Building Products in a report on Tuesday.

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.