New York State Teachers Retirement System lowered its position in Quanex Building Products Co. (NYSE:NX) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 99,135 shares of the company’s stock after selling 3,300 shares during the period. New York State Teachers Retirement System’s holdings in Quanex Building Products were worth $2,012,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its stake in Quanex Building Products by 56.9% in the third quarter. Acrospire Investment Management LLC now owns 7,129 shares of the company’s stock worth $123,000 after buying an additional 2,584 shares during the period. Princeton Alpha Management LP acquired a new stake in Quanex Building Products during the third quarter worth about $230,000. Stevens Capital Management LP acquired a new stake in Quanex Building Products during the third quarter worth about $290,000. Alambic Investment Management L.P. acquired a new stake in Quanex Building Products during the third quarter worth about $413,000. Finally, TD Asset Management Inc. raised its stake in Quanex Building Products by 26.7% in the third quarter. TD Asset Management Inc. now owns 34,200 shares of the company’s stock worth $590,000 after buying an additional 7,200 shares during the period. Institutional investors own 97.37% of the company’s stock.
Shares of Quanex Building Products Co. (NYSE:NX) opened at 19.95 on Tuesday. The stock has a 50 day moving average of $19.62 and a 200-day moving average of $18.93. Quanex Building Products Co. has a one year low of $15.40 and a one year high of $21.90. The firm has a market capitalization of $680.99 million, a price-to-earnings ratio of 407.14 and a beta of 0.79.
Quanex Building Products (NYSE:NX) last released its earnings results on Monday, March 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Quanex Building Products had a negative net margin of 0.20% and a positive return on equity of 7.58%. The firm earned $195.10 million during the quarter, compared to the consensus estimate of $189.63 million. During the same period in the previous year, the firm earned ($0.02) earnings per share. Quanex Building Products’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Quanex Building Products Co. will post $0.90 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $0.16 dividend on an annualized basis and a yield of 0.80%. Quanex Building Products’s payout ratio is -266.67%.
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NX has been the topic of a number of analyst reports. TheStreet upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a report on Thursday, December 15th. Zacks Investment Research upgraded shares of Quanex Building Products from a “sell” rating to a “hold” rating in a report on Tuesday, February 21st. Finally, Wedbush restated an “outperform” rating and issued a $24.00 price objective (up from $23.00) on shares of Quanex Building Products in a report on Thursday, December 15th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $23.17.
About Quanex Building Products
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