Empowered Funds LLC Sells 71,669 Shares of Quanex Building Products Co. (NYSE:NX)

Empowered Funds LLC lessened its position in shares of Quanex Building Products Co. (NYSE:NX) by 28.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,144 shares of the construction company’s stock after selling 71,669 shares during the quarter. Empowered Funds LLC owned approximately 0.37% of Quanex Building Products worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. acquired a new stake in Quanex Building Products during the fourth quarter worth $25,380,000. State Street Corp lifted its holdings in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after acquiring an additional 351,778 shares during the period. Geode Capital Management LLC boosted its position in shares of Quanex Building Products by 37.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after acquiring an additional 286,128 shares in the last quarter. Janus Henderson Group PLC increased its stake in Quanex Building Products by 318.9% in the third quarter. Janus Henderson Group PLC now owns 232,428 shares of the construction company’s stock valued at $6,447,000 after acquiring an additional 176,949 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Quanex Building Products in the third quarter worth about $4,766,000. 97.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO George Laverne Wilson bought 4,328 shares of Quanex Building Products stock in a transaction dated Thursday, December 19th. The shares were bought at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.15% of the company’s stock.

Quanex Building Products Stock Performance

Quanex Building Products stock opened at $22.22 on Wednesday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.70 and a beta of 1.28. The stock has a fifty day moving average price of $24.21 and a two-hundred day moving average price of $27.16. Quanex Building Products Co. has a 52-week low of $19.57 and a 52-week high of $39.31. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.24 and a quick ratio of 1.23.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same quarter in the previous year, the company posted $0.95 earnings per share. As a group, analysts anticipate that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.44%. Quanex Building Products’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd.

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.