Royce & Associates LP Increases Stake in Quanex Building Products Co. (NYSE:NX)

Royce & Associates LP grew its stake in Quanex Building Products Co. (NYSE:NX) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,486 shares of the construction company’s stock after buying an additional 58,315 shares during the period. Royce & Associates LP owned 1.12% of Quanex Building Products worth $14,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Quanex Building Products during the second quarter worth about $46,000. nVerses Capital LLC raised its position in shares of Quanex Building Products by 900.0% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after purchasing an additional 1,800 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Quest Partners LLC lifted its position in shares of Quanex Building Products by 9,011.1% in the second quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock valued at $91,000 after acquiring an additional 3,244 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock opened at $29.95 on Friday. The business’s fifty day simple moving average is $28.74 and its 200-day simple moving average is $29.60. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.42 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 0.73 and a beta of 1.25. Quanex Building Products Co. has a 52 week low of $24.85 and a 52 week high of $39.31.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same period in the previous year, the firm earned $0.97 EPS. Equities analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.07%. Quanex Building Products’s payout ratio is currently 14.22%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

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.