Rhumbline Advisers Sells 6,380 Shares of Quanex Building Products Co. (NYSE:NX)

Rhumbline Advisers cut its position in shares of Quanex Building Products Co. (NYSE:NX) by 5.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 110,508 shares of the construction company’s stock after selling 6,380 shares during the period. Rhumbline Advisers’ holdings in Quanex Building Products were worth $2,745,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. grew its position in Quanex Building Products by 7.9% during the 1st quarter. BlackRock Inc. now owns 5,744,075 shares of the construction company’s stock worth $150,670,000 after acquiring an additional 420,036 shares during the last quarter. Ameriprise Financial Inc. grew its position in Quanex Building Products by 9.6% during the 1st quarter. Ameriprise Financial Inc. now owns 1,155,554 shares of the construction company’s stock worth $30,322,000 after acquiring an additional 101,440 shares during the last quarter. Nuveen Asset Management LLC grew its position in Quanex Building Products by 7.7% during the 1st quarter. Nuveen Asset Management LLC now owns 962,454 shares of the construction company’s stock worth $25,246,000 after acquiring an additional 68,715 shares during the last quarter. Geode Capital Management LLC grew its position in Quanex Building Products by 11.4% during the 1st quarter. Geode Capital Management LLC now owns 650,425 shares of the construction company’s stock worth $17,060,000 after acquiring an additional 66,331 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Quanex Building Products by 4.2% during the 1st quarter. Principal Financial Group Inc. now owns 519,944 shares of the construction company’s stock worth $13,638,000 after acquiring an additional 20,759 shares during the last quarter. Hedge funds and other institutional investors own 96.16% of the company’s stock.

Separately, Zacks Investment Research lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Saturday, September 11th.

Shares of NX stock opened at $21.46 on Tuesday. The firm has a market cap of $719.38 million, a P/E ratio of 12.19 and a beta of 1.66. Quanex Building Products Co. has a fifty-two week low of $17.09 and a fifty-two week high of $29.02. The business’s 50 day moving average price is $23.46 and its 200-day moving average price is $25.30. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.72.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Wednesday, September 1st. The construction company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). The business had revenue of $279.90 million during the quarter, compared to the consensus estimate of $272.81 million. Quanex Building Products had a return on equity of 15.58% and a net margin of 5.62%. Quanex Building Products’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 earnings per share. As a group, equities analysts predict that Quanex Building Products Co. will post 1.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.49%. Quanex Building Products’s dividend payout ratio is currently 25.81%.

About Quanex Building Products

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 Engineered Components, European Engineered Components, North American Cabinet Components, Unallocated Corporate and Other.

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Institutional Ownership by Quarter for Quanex Building Products (NYSE:NX)

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