Renaissance Technologies LLC reduced its stake in shares of Quanex Building Products Corporation (NYSE:NX) by 15.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 940,500 shares of the construction company’s stock after selling 175,302 shares during the quarter. Renaissance Technologies LLC owned about 2.73% of Quanex Building Products Corporation worth $19,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NX. BlackRock Inc. grew its stake in shares of Quanex Building Products Corporation by 47,018.6% during the first quarter. BlackRock Inc. now owns 4,691,600 shares of the construction company’s stock valued at $95,005,000 after buying an additional 4,681,643 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Quanex Building Products Corporation by 6.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,748,304 shares of the construction company’s stock valued at $55,653,000 after buying an additional 158,417 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Quanex Building Products Corporation by 4.0% during the first quarter. Vanguard Group Inc. now owns 3,027,319 shares of the construction company’s stock valued at $61,304,000 after buying an additional 115,239 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in shares of Quanex Building Products Corporation by 11.7% during the second quarter. Kennedy Capital Management Inc. now owns 966,645 shares of the construction company’s stock valued at $20,445,000 after buying an additional 100,960 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of Quanex Building Products Corporation by 24.9% during the first quarter. Ameriprise Financial Inc. now owns 426,691 shares of the construction company’s stock valued at $8,640,000 after buying an additional 85,102 shares during the last quarter. 99.75% of the stock is currently owned by institutional investors.

A number of research analysts have recently commented on NX shares. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. BidaskClub cut Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Sidoti started coverage on Quanex Building Products Corporation in a research note on Monday, August 7th. They set a “buy” rating on the stock. Zacks Investment Research raised Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, TheStreet raised Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.00.

In related news, VP Brent L. Korb sold 17,500 shares of Quanex Building Products Corporation stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $21.15, for a total value of $370,125.00. Following the completion of the sale, the vice president now owns 94,679 shares in the company, valued at approximately $2,002,460.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.32% of the stock is owned by company insiders.

Quanex Building Products Corporation (NYSE:NX) opened at 22.70 on Friday. Quanex Building Products Corporation has a 1-year low of $15.41 and a 1-year high of $23.60. The company has a market cap of $782.17 million, a PE ratio of 57.76 and a beta of 0.67. The stock’s 50 day moving average price is $21.17 and its 200-day moving average price is $20.64.

Quanex Building Products Corporation (NYSE:NX) last announced its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The firm had revenue of $229.40 million for the quarter, compared to analyst estimates of $235.45 million. Quanex Building Products Corporation had a return on equity of 7.87% and a net margin of 1.52%. The firm’s quarterly revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 EPS. On average, analysts forecast that Quanex Building Products Corporation will post $0.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 18th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.70%. Quanex Building Products Corporation’s dividend payout ratio is currently 42.11%.

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About Quanex Building Products Corporation

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

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