Oregon Public Employees Retirement Fund Sells 400 Shares of Quanex Building Products Co. (NYSE:NX)

Posted by Defense World Staff on Oct 24th, 2023

Oregon Public Employees Retirement Fund cut its stake in Quanex Building Products Co. (NYSE:NX – Free Report) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,327 shares of the construction company’s stock after selling 400 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Quanex Building Products were worth $277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NX. Janney Montgomery Scott LLC boosted its holdings in shares of Quanex Building Products by 19.6% in the second quarter. Janney Montgomery Scott LLC now owns 17,308 shares of the construction company’s stock valued at $465,000 after purchasing an additional 2,833 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Quanex Building Products by 12.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,400 shares of the construction company’s stock worth $467,000 after buying an additional 1,900 shares in the last quarter. Ritholtz Wealth Management increased its stake in shares of Quanex Building Products by 44.3% during the second quarter. Ritholtz Wealth Management now owns 16,459 shares of the construction company’s stock valued at $442,000 after buying an additional 5,053 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Quanex Building Products by 13.8% in the first quarter. Ameriprise Financial Inc. now owns 1,344,920 shares of the construction company’s stock valued at $28,956,000 after acquiring an additional 162,588 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Quanex Building Products by 34.0% in the first quarter. JPMorgan Chase & Co. now owns 76,796 shares of the construction company’s stock worth $1,654,000 after acquiring an additional 19,498 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Quanex Building Products Trading Down 1.0 %

Shares of NYSE NX opened at $26.55 on Tuesday. Quanex Building Products Co. has a 1-year low of $18.71 and a 1-year high of $29.63. The business has a fifty day moving average price of $27.49 and a 200 day moving average price of $25.25. The stock has a market capitalization of $875.88 million, a P/E ratio of 10.97 and a beta of 1.41. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.12 and a quick ratio of 1.35.

Quanex Building Products (NYSE:NX – Get Free Report) last released its quarterly earnings results on Thursday, August 31st. The construction company reported $0.97 EPS for the quarter. Quanex Building Products had a net margin of 6.98% and a return on equity of 17.28%. The business had revenue of $299.64 million during the quarter.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, September 14th. Quanex Building Products’s dividend payout ratio is currently 13.22%.

Insider Transactions at Quanex Building Products

In other news, Director William C. Griffiths sold 16,071 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $28.09, for a total value of $451,434.39. Following the completion of the sale, the director now owns 167,236 shares of the company’s stock, valued at approximately $4,697,659.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director William C. Griffiths sold 16,071 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $28.09, for a total transaction of $451,434.39. Following the transaction, the director now owns 167,236 shares in the company, valued at $4,697,659.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William C. Griffiths sold 25,000 shares of Quanex Building Products stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $29.09, for a total transaction of $727,250.00. Following the completion of the sale, the director now owns 135,915 shares of the company’s stock, valued at $3,953,767.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,879 shares of company stock valued at $1,201,349. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

NX has been the subject of several recent research reports. Benchmark boosted their price target on shares of Quanex Building Products from $31.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. StockNews.com assumed coverage on shares of Quanex Building Products in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company.

View Our Latest Stock Analysis on NX

Quanex Building Products Company Profile

(Free Report)

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.