Los Angeles Capital Management LLC Sells 39,316 Shares of Quanex Building Products Co. (NYSE:NX)

Posted by Defense World Staff on May 3rd, 2023

Los Angeles Capital Management LLC lowered its position in Quanex Building Products Co. (NYSE:NX – Get Rating) by 44.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,326 shares of the construction company’s stock after selling 39,316 shares during the quarter. Los Angeles Capital Management LLC owned 0.15% of Quanex Building Products worth $1,168,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NX. Hancock Whitney Corp lifted its position in shares of Quanex Building Products by 46.1% during the 4th quarter. Hancock Whitney Corp now owns 25,149 shares of the construction company’s stock worth $596,000 after buying an additional 7,931 shares during the period. SG Americas Securities LLC increased its holdings in Quanex Building Products by 17.7% during the 4th quarter. SG Americas Securities LLC now owns 8,583 shares of the construction company’s stock valued at $203,000 after purchasing an additional 1,289 shares in the last quarter. ARGI Investment Services LLC acquired a new stake in Quanex Building Products during the 4th quarter valued at $3,308,000. Bank of Montreal Can increased its holdings in Quanex Building Products by 19.5% during the 4th quarter. Bank of Montreal Can now owns 19,136 shares of the construction company’s stock valued at $461,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Quanex Building Products by 35.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,995 shares of the construction company’s stock valued at $142,000 after purchasing an additional 1,557 shares in the last quarter. Institutional investors own 98.49% of the company’s stock.

Quanex Building Products Stock Up 0.1 %

NYSE NX opened at $19.38 on Wednesday. The stock has a fifty day moving average of $21.48 and a 200-day moving average of $23.02. The stock has a market capitalization of $644.17 million, a P/E ratio of 8.11 and a beta of 1.35. Quanex Building Products Co. has a 52 week low of $18.00 and a 52 week high of $27.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.22.

Quanex Building Products (NYSE:NX – Get Rating) last posted its quarterly earnings results on Thursday, March 9th. The construction company reported $0.18 earnings per share (EPS) for the quarter. Quanex Building Products had a return on equity of 18.33% and a net margin of 6.50%. The business had revenue of $261.92 million for the quarter.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.32 annualized dividend and a yield of 1.65%. Quanex Building Products’s dividend payout ratio is presently 13.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $28.00 price target on shares of Quanex Building Products in a report on Tuesday, March 14th. StockNews.com raised Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Monday.

About Quanex Building Products

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Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. The firm operates through the following segments: North American Fenestration, European Fenestration, North American Cabinet Components, and Unallocated Corporate and Other.