BlackRock Inc. raised its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,314,851 shares of the construction company’s stock after buying an additional 237,466 shares during the quarter. BlackRock Inc. owned about 0.15% of Quanex Building Products worth $95,400,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in shares of Quanex Building Products by 139.2% during the 1st quarter. Wells Fargo & Company MN now owns 517,996 shares of the construction company’s stock valued at $9,013,000 after buying an additional 301,434 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Quanex Building Products by 11.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 331,176 shares of the construction company’s stock valued at $5,763,000 after buying an additional 32,754 shares in the last quarter. Northern Trust Corp raised its position in shares of Quanex Building Products by 2.6% during the 1st quarter. Northern Trust Corp now owns 440,864 shares of the construction company’s stock valued at $7,671,000 after buying an additional 11,299 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Quanex Building Products by 33.2% during the 1st quarter. California Public Employees Retirement System now owns 59,802 shares of the construction company’s stock valued at $1,041,000 after buying an additional 14,902 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Quanex Building Products by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,948,435 shares of the construction company’s stock valued at $51,303,000 after buying an additional 23,570 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

Several analysts have recently issued reports on NX shares. TheStreet upgraded shares of Quanex Building Products from a “c” rating to a “b-” rating in a research report on Thursday, September 27th. Zacks Investment Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Saturday, September 8th. ValuEngine upgraded shares of Quanex Building Products from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Finally, Sidoti cut shares of Quanex Building Products from a “buy” rating to a “neutral” rating in a research report on Friday, June 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.50.

In related news, VP Brent L. Korb sold 100,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $17.35, for a total transaction of $1,735,000.00. Following the transaction, the vice president now directly owns 114,307 shares in the company, valued at approximately $1,983,226.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brent L. Korb sold 11,502 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $17.26, for a total transaction of $198,524.52. Following the transaction, the chief financial officer now owns 114,307 shares in the company, valued at $1,972,938.82. The disclosure for this sale can be found here. Insiders have sold a total of 123,302 shares of company stock worth $2,160,793 over the last quarter. 5.59% of the stock is currently owned by insiders.

Shares of NYSE:NX opened at $16.93 on Friday. The stock has a market cap of $640.00 million, a P/E ratio of 21.99 and a beta of 0.61. Quanex Building Products Co. has a 12 month low of $16.00 and a 12 month high of $24.60. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.07 and a current ratio of 1.98.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 6th. The construction company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.32 by $0.01. The company had revenue of $239.82 million for the quarter, compared to the consensus estimate of $237.92 million. Quanex Building Products had a net margin of 3.48% and a return on equity of 6.67%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, equities analysts forecast that Quanex Building Products Co. will post 0.83 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.89%. This is an increase from Quanex Building Products’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend was Thursday, September 13th. Quanex Building Products’s dividend payout ratio is presently 41.56%.

About Quanex Building Products

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; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.

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

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