Vestcor Inc Raises Stock Position in Quanex Building Products Co. (NYSE:NX)

Vestcor Inc grew its holdings in Quanex Building Products Co. (NYSE:NX) by 720.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,360 shares of the construction company’s stock after acquiring an additional 17,000 shares during the period. Vestcor Inc’s holdings in Quanex Building Products were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 purchasing an additional 393 shares in the last quarter. Quarry LP boosted its stake in Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after buying an additional 677 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Quanex Building Products during the 3rd quarter valued at approximately $37,000. Public Employees Retirement System of Ohio grew its holdings in Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Quanex Building Products during the 2nd quarter worth approximately $46,000. Institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark restated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $28.26 on Friday. The stock has a 50 day moving average price of $29.62 and a 200-day moving average price of $29.03. Quanex Building Products Co. has a one year low of $24.85 and a one year high of $39.31. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 25.23, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the previous year, the business earned $0.95 EPS. Equities analysts expect that Quanex Building Products Co. will post 2.1 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is currently 28.57%.

Quanex Building Products Company Profile

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.