Todays Report: The Anchor Capital Advisors LLC Acquires New Position in Quanex Building Products Corp. (NX)

The Anchor Capital Advisors LLC Acquires New Position in Quanex Building Products Corp. (NX)

Anchor Capital Advisors LLC bought a new position in shares of Quanex Building Products Corp. (NYSE:NX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 30,026 shares of the company’s stock, valued at approximately $558,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC raised its position in Quanex Building Products Corp. by 142.1% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,642,678 shares of the company’s stock worth $28,516,000 after buying an additional 964,118 shares during the last quarter. Renaissance Technologies LLC raised its position in Quanex Building Products Corp. by 29.7% in the first quarter. Renaissance Technologies LLC now owns 1,273,000 shares of the company’s stock worth $22,099,000 after buying an additional 291,300 shares during the last quarter. Mitra Capital LLC bought a new position in Quanex Building Products Corp. during the first quarter worth about $1,767,000. TIAA CREF Investment Management LLC raised its position in Quanex Building Products Corp. by 25.0% in the first quarter. TIAA CREF Investment Management LLC now owns 271,904 shares of the company’s stock worth $4,720,000 after buying an additional 54,309 shares during the last quarter. Finally, Balter Liquid Alternatives LLC raised its position in Quanex Building Products Corp. by 47.2% in the first quarter. Balter Liquid Alternatives LLC now owns 122,696 shares of the company’s stock worth $2,130,000 after buying an additional 39,336 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Corp. (NYSE:NX) traded down 0.31% during mid-day trading on Friday, reaching $15.85. The company’s stock had a trading volume of 97,355 shares. The firm’s 50 day moving average price is $17.02 and its 200 day moving average price is $18.75. The firm has a market capitalization of $538.12 million, a P/E ratio of 211.33 and a beta of 1.15. Quanex Building Products Corp. has a 52 week low of $15.33 and a 52 week high of $21.66.

Quanex Building Products Corp. (NYSE:NX) last announced its quarterly earnings results on Tuesday, September 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.01. The business had revenue of $248.10 million for the quarter. Quanex Building Products Corp. had a return on equity of 6.25% and a net margin of 0.30%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, analysts anticipate that Quanex Building Products Corp. will post $0.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Wednesday, September 14th. Quanex Building Products Corp.’s dividend payout ratio (DPR) is 228.60%.

A number of research analysts recently weighed in on the company. Imperial Capital reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corp. in a report on Wednesday, August 31st. Wedbush reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Quanex Building Products Corp. in a report on Monday, October 10th. Finally, TheStreet lowered Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Quanex Building Products Corp. currently has a consensus rating of “Hold” and a consensus price target of $22.63.

About Quanex Building Products Corp.

Quanex Building Products Corporation manufactures components primarily for the window and door (fenestration) industry, including insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products for original equipment manufacturers (OEMs). The Company’s segments include Engineered Products, International Extrusion, and Corporate & Other.

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