Trade Report: The Virginia Retirement Systems ET AL Invests $366,000 in Quanex Building Products Corp. (NX)

The Virginia Retirement Systems ET AL Invests $366,000 in Quanex Building Products Corp. (NX)

Virginia Retirement Systems ET AL purchased a new position in shares of Quanex Building Products Corp. (NYSE:NX) during the second quarter, Holdings Channel reports. The firm purchased 19,700 shares of the company’s stock, valued at approximately $366,000. Virginia Retirement Systems ET AL owned 0.06% of Quanex Building Products Corp. at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Prudential Financial Inc. raised its stake in Quanex Building Products Corp. by 1.7% in the second quarter. Prudential Financial Inc. now owns 82,406 shares of the company’s stock valued at $1,532,000 after buying an additional 1,360 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Quanex Building Products Corp. by 6.8% in the second quarter. Nisa Investment Advisors LLC now owns 43,800 shares of the company’s stock worth $814,000 after buying an additional 2,800 shares during the period. Nisa Investment Advisors L.L.C. increased its position in shares of Quanex Building Products Corp. by 8.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 41,000 shares of the company’s stock worth $712,000 after buying an additional 3,300 shares during the period. Royal Bank of Canada increased its position in shares of Quanex Building Products Corp. by 10.3% in the first quarter. Royal Bank of Canada now owns 35,481 shares of the company’s stock worth $616,000 after buying an additional 3,306 shares during the period. Finally, Lapides Asset Management LLC increased its position in shares of Quanex Building Products Corp. by 5.5% in the second quarter. Lapides Asset Management LLC now owns 88,800 shares of the company’s stock worth $1,651,000 after buying an additional 4,600 shares during the period. Institutional investors own 94.55% of the company’s stock.

Quanex Building Products Corp. (NYSE:NX) opened at 17.28 on Friday. Quanex Building Products Corp. has a 52-week low of $15.33 and a 52-week high of $21.66. The firm has a market cap of $586.67 million, a P/E ratio of 230.40 and a beta of 1.15. The stock has a 50 day moving average price of $18.21 and a 200 day moving average price of $18.86.

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

The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $0.16 annualized dividend and a dividend yield of 0.93%. Quanex Building Products Corp.’s dividend payout ratio is presently 228.60%.

A number of equities analysts have weighed in on the company. Imperial Capital reissued an “outperform” rating and set a $25.00 price target on shares of Quanex Building Products Corp. in a research report on Wednesday, August 31st. Wedbush reissued an “outperform” rating and set a $24.00 price target on shares of Quanex Building Products Corp. in a research report on Friday, August 19th. Finally, TheStreet downgraded Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Quanex Building Products Corp. has a consensus rating of “Hold” and an average price target of $22.88.

Quanex Building Products Corp. Company Profile

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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