Quanex Building Products Co. (NYSE:NX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Quanex Building Products Co. (NYSE:NX) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,248,626 shares of the construction company’s stock after selling 99,192 shares during the period. Allspring Global Investments Holdings LLC owned 6.87% of Quanex Building Products worth $76,408,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the period. Quarry LP grew its position in shares of Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after purchasing an additional 677 shares during the period. Point72 Hong Kong Ltd acquired a new position in Quanex Building Products in the third quarter valued at $37,000. Public Employees Retirement System of Ohio lifted its position in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after buying an additional 605 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Quanex Building Products by 10,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after buying an additional 2,090 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd.

Insider Transactions at Quanex Building Products

In related news, CEO George Laverne Wilson purchased 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Quanex Building Products Stock Down 1.8 %

Shares of NX opened at $21.85 on Thursday. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.03 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. The company’s fifty day moving average is $24.05 and its two-hundred day moving average is $27.12. Quanex Building Products Co. has a fifty-two week low of $19.57 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same period last year, the business earned $0.95 EPS. Analysts forecast that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.46%. The ex-dividend date was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

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.