State of New Jersey Common Pension Fund D Acquires 12,895 Shares of Quanex Building Products Co. (NYSE:NX)

State of New Jersey Common Pension Fund D lifted its position in Quanex Building Products Co. (NYSE:NX) by 22.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,211 shares of the construction company’s stock after buying an additional 12,895 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.15% of Quanex Building Products worth $1,921,000 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. State Board of Administration of Florida Retirement System lifted its stake in shares of Quanex Building Products by 224.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock worth $1,177,000 after buying an additional 21,189 shares during the last quarter. Susquehanna International Group Ltd. acquired a new stake in shares of Quanex Building Products in the second quarter worth $611,000. Victory Capital Management Inc. lifted its stake in shares of Quanex Building Products by 174.2% in the second quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock worth $2,296,000 after buying an additional 52,767 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Quanex Building Products during the 3rd quarter valued at $15,343,000. Finally, Bank of Montreal Can raised its stake in Quanex Building Products by 512.1% during the 2nd quarter. Bank of Montreal Can now owns 69,679 shares of the construction company’s stock valued at $1,998,000 after purchasing an additional 58,295 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Stock Performance

Shares of NYSE:NX opened at $29.95 on Monday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.73 and a beta of 1.25. The firm’s 50 day simple moving average is $28.74 and its 200 day simple moving average is $29.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. Quanex Building Products Co. has a fifty-two week low of $24.85 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same period last year, the company earned $0.97 earnings per share. As a group, sell-side analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.07%. Quanex Building Products’s dividend payout ratio is 14.22%.

About Quanex Building Products

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.