Todays Report: The Quanex Building Products Corp. (NX) Stake Raised by Dimensional Fund Advisors LP

The Quanex Building Products Corp. (NX) Stake Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its stake in Quanex Building Products Corp. (NYSE:NX) by 9.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,364,750 shares of the company’s stock after buying an additional 194,555 shares during the period. Dimensional Fund Advisors LP owned approximately 6.98% of Quanex Building Products Corp. worth $43,960,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NX. Silvercrest Asset Management Group LLC increased its stake in shares of 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 period. Investment Counselors of Maryland LLC bought a new stake in shares of Quanex Building Products Corp. during the second quarter worth $12,968,000. Renaissance Technologies LLC increased its stake in shares of 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 period. Chartwell Investment Partners LLC bought a new stake in shares of Quanex Building Products Corp. during the second quarter worth $4,628,000. Finally, Mitra Capital LLC bought a new stake in shares of Quanex Building Products Corp. during the first quarter worth $1,767,000. 94.55% of the stock is owned by institutional investors and hedge funds.

Shares of Quanex Building Products Corp. (NYSE:NX) opened at 16.75 on Friday. Quanex Building Products Corp. has a 12 month low of $15.33 and a 12 month high of $21.66. The company’s 50 day moving average is $17.88 and its 200-day moving average is $18.84. The firm has a market cap of $568.68 million, a PE ratio of 223.33 and a beta of 1.15.

Quanex Building Products Corp. (NYSE:NX) last released its quarterly earnings data on Tuesday, September 6th. The company reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.01. Quanex Building Products Corp. had a net margin of 0.30% and a return on equity of 6.25%. The firm earned $248.10 million during the quarter. During the same period last year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 37.7% compared to the same quarter last year. Equities research analysts predict that Quanex Building Products Corp. will post $0.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.96%. Quanex Building Products Corp.’s dividend payout ratio (DPR) is 228.60%.

A number of brokerages have recently issued reports on NX. Wedbush restated an “outperform” rating and issued a $24.00 price objective on shares of Quanex Building Products Corp. in a research note on Friday, August 19th. Imperial Capital restated an “outperform” rating and issued a $25.00 price objective on shares of Quanex Building Products Corp. in a research note on Wednesday, August 31st. Finally, TheStreet cut shares of Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a research note 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. The company currently has an average rating of “Hold” and an average target price of $22.63.

Quanex Building Products Corp. Company Profile

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