Quanex Building Products Co. (NYSE:NX) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its stake in Quanex Building Products Co. (NYSE:NX) by 4.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 519,944 shares of the construction company’s stock after acquiring an additional 20,759 shares during the quarter. Principal Financial Group Inc.’s holdings in Quanex Building Products were worth $13,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NX. FMR LLC grew its holdings in shares of Quanex Building Products by 591.7% in the 1st quarter. FMR LLC now owns 1,757 shares of the construction company’s stock worth $28,000 after acquiring an additional 1,503 shares during the last quarter. Arizona State Retirement System acquired a new position in shares of Quanex Building Products in the 4th quarter worth $211,000. SG Americas Securities LLC acquired a new position in shares of Quanex Building Products in the 4th quarter worth $420,000. BlackRock Inc. grew its holdings in shares of Quanex Building Products by 2.6% in the 4th quarter. BlackRock Inc. now owns 5,324,039 shares of the construction company’s stock worth $118,034,000 after acquiring an additional 136,143 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its holdings in shares of Quanex Building Products by 11.5% in the 4th quarter. IndexIQ Advisors LLC now owns 20,778 shares of the construction company’s stock worth $461,000 after acquiring an additional 2,145 shares during the last quarter. Institutional investors and hedge funds own 98.01% of the company’s stock.

Shares of NX stock opened at $26.31 on Friday. Quanex Building Products Co. has a 1-year low of $12.09 and a 1-year high of $29.02. The company has a quick ratio of 1.14, a current ratio of 1.73 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $883.91 million, a P/E ratio of 15.66 and a beta of 1.69. The company’s fifty day simple moving average is $27.03.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Wednesday, June 2nd. The construction company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. Quanex Building Products had a return on equity of 15.44% and a net margin of 5.72%. The business had revenue of $270.40 million for the quarter, compared to the consensus estimate of $230.40 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. Quanex Building Products’s revenue for the quarter was up 44.2% compared to the same quarter last year. On average, analysts anticipate that Quanex Building Products Co. will post 1.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.22%. Quanex Building Products’s dividend payout ratio is 25.81%.

Separately, Zacks Investment Research upgraded Quanex Building Products from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Wednesday.

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

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