Royce & Associates LP Trims Stock Holdings in Quanex Building Products Corporation $NX

Royce & Associates LP reduced its stake in Quanex Building Products Corporation (NYSE:NX) by 35.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 215,822 shares of the construction company’s stock after selling 118,556 shares during the period. Royce & Associates LP owned approximately 0.47% of Quanex Building Products worth $3,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NX. Royal Bank of Canada raised its holdings in Quanex Building Products by 22.6% in the 1st quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock valued at $476,000 after buying an additional 4,720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Quanex Building Products by 9.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company’s stock valued at $521,000 after buying an additional 2,347 shares during the period. Goldman Sachs Group Inc. raised its holdings in Quanex Building Products by 25.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company’s stock valued at $4,586,000 after buying an additional 49,895 shares during the period. Jane Street Group LLC grew its position in Quanex Building Products by 887.4% in the 1st quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock valued at $1,579,000 after acquiring an additional 76,353 shares in the last quarter. Finally, Sei Investments Co. grew its position in Quanex Building Products by 8.0% in the 2nd quarter. Sei Investments Co. now owns 72,103 shares of the construction company’s stock valued at $1,363,000 after acquiring an additional 5,313 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NX has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. Zacks Research downgraded Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Quanex Building Products has an average rating of “Reduce” and an average price target of $28.00.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock opened at $18.61 on Friday. Quanex Building Products Corporation has a one year low of $11.04 and a one year high of $22.98. The company has a market cap of $854.90 million, a PE ratio of -3.54, a P/E/G ratio of 0.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 2.31. The business has a 50-day simple moving average of $18.74 and a 200-day simple moving average of $17.62.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 5th. The construction company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%.The business had revenue of $409.09 million during the quarter, compared to the consensus estimate of $405.75 million. On average, equities research analysts forecast that Quanex Building Products Corporation will post 1.63 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. Quanex Building Products’s payout ratio is currently -6.08%.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.