Oregon Public Employees Retirement Fund Acquires Shares of 13,373 Quanex Building Products Co. (NX)
Oregon Public Employees Retirement Fund acquired a new stake in Quanex Building Products Co. (NYSE:NX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,373 shares of the construction company’s stock, valued at approximately $182,000.
Other large investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Quanex Building Products by 7.5% in the third quarter. Legal & General Group Plc now owns 82,932 shares of the construction company’s stock valued at $1,511,000 after buying an additional 5,821 shares in the last quarter. Algert Global LLC acquired a new stake in Quanex Building Products in the third quarter valued at about $581,000. Meeder Asset Management Inc. acquired a new stake in Quanex Building Products in the fourth quarter valued at about $41,000. Dimensional Fund Advisors LP boosted its stake in Quanex Building Products by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,946,857 shares of the construction company’s stock valued at $53,633,000 after buying an additional 14,671 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Quanex Building Products by 34.4% in the third quarter. First Trust Advisors LP now owns 53,410 shares of the construction company’s stock valued at $972,000 after buying an additional 13,660 shares in the last quarter. 98.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Joseph D. Rupp acquired 30,000 shares of the stock in a transaction dated Thursday, December 27th. The stock was bought at an average cost of $12.99 per share, for a total transaction of $389,700.00. Following the completion of the transaction, the director now directly owns 25,421 shares of the company’s stock, valued at $330,218.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.98% of the stock is owned by company insiders.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Tuesday, March 5th. The construction company reported ($0.07) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.04. Quanex Building Products had a return on equity of 5.32% and a net margin of 1.98%. Equities analysts predict that Quanex Building Products Co. will post 0.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 18th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.04%. Quanex Building Products’s dividend payout ratio (DPR) is 49.23%.
NX has been the topic of a number of recent research reports. Zacks Investment Research raised Quanex Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. Seaport Global Securities initiated coverage on Quanex Building Products in a research note on Friday. They set a “buy” rating and a $19.00 price target on the stock. Sidoti cut their price target on Quanex Building Products to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 11th. Finally, CJS Securities raised Quanex Building Products from a “market perform” rating to an “outperform” rating in a research note on Wednesday, December 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Quanex Building Products presently has an average rating of “Hold” and a consensus target price of $17.00.
Quanex Building Products Company Profile
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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