Y Intercept Hong Kong Ltd Buys New Stake in Quanex Building Products Corporation $NX

Y Intercept Hong Kong Ltd purchased a new position in Quanex Building Products Corporation (NYSE:NX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 32,944 shares of the construction company’s stock, valued at approximately $468,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Quanex Building Products by 3.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,355,294 shares of the construction company’s stock valued at $67,509,000 after buying an additional 110,268 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Quanex Building Products by 7.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock worth $43,013,000 after purchasing an additional 166,518 shares during the period. Systematic Financial Management LP lifted its stake in shares of Quanex Building Products by 6.7% during the 2nd quarter. Systematic Financial Management LP now owns 1,283,079 shares of the construction company’s stock worth $24,250,000 after purchasing an additional 80,574 shares during the period. Loomis Sayles & Co. L P boosted its holdings in shares of Quanex Building Products by 32.9% during the second quarter. Loomis Sayles & Co. L P now owns 548,831 shares of the construction company’s stock worth $10,373,000 after purchasing an additional 135,875 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Quanex Building Products by 28.5% in the second quarter. Bank of America Corp DE now owns 523,291 shares of the construction company’s stock valued at $9,890,000 after purchasing an additional 115,903 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Benchmark cut their price objective on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, December 15th. Wall Street Zen upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Finally, Zacks Research lowered shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $28.00.

Insider Buying and Selling at Quanex Building Products

In other news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90. Following the completion of the sale, the insider owned 4,421,879 shares in the company, valued at approximately $70,484,751.26. This trade represents a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.92% of the stock is owned by insiders.

Quanex Building Products Trading Up 3.6%

Shares of NX stock opened at $20.08 on Thursday. The stock has a market cap of $922.48 million, a price-to-earnings ratio of -3.66, a price-to-earnings-growth ratio of 0.66 and a beta of 0.94. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.92. Quanex Building Products Corporation has a fifty-two week low of $11.04 and a fifty-two week high of $23.72. The firm’s 50 day moving average price is $16.36 and its two-hundred day moving average price is $16.38.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, December 11th. The construction company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.33. The company had revenue of $489.85 million during the quarter, compared to analyst estimates of $472.62 million. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, December 15th. Quanex Building Products’s payout ratio is currently -5.83%.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.