Pacer Advisors Inc. cut its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 13.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,544 shares of the construction company’s stock after selling 1,937 shares during the period. Pacer Advisors Inc.’s holdings in Quanex Building Products were worth $237,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of Quanex Building Products by 591.7% during the first quarter. FMR LLC now owns 1,757 shares of the construction company’s stock valued at $28,000 after acquiring an additional 1,503 shares in the last quarter. Smith Asset Management Group LP acquired a new stake in shares of Quanex Building Products during the second quarter valued at about $69,000. Meeder Asset Management Inc. lifted its position in shares of Quanex Building Products by 257.3% during the second quarter. Meeder Asset Management Inc. now owns 6,282 shares of the construction company’s stock worth $118,000 after purchasing an additional 4,524 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Quanex Building Products by 191.4% during the first quarter. BNP Paribas Arbitrage SA now owns 7,727 shares of the construction company’s stock worth $123,000 after purchasing an additional 5,075 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in shares of Quanex Building Products during the second quarter worth about $181,000. Institutional investors own 99.16% of the company’s stock.

Shares of NX stock traded down $0.10 during trading hours on Tuesday, hitting $18.96. 1,536 shares of the company were exchanged, compared to its average volume of 218,858. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.15. Quanex Building Products Co. has a one year low of $10.70 and a one year high of $19.55. The business’s 50-day simple moving average is $17.63 and its two-hundred day simple moving average is $17.05. The stock has a market capitalization of $629.42 million, a price-to-earnings ratio of 29.08 and a beta of 1.22.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. Quanex Building Products had a negative net margin of 1.03% and a positive return on equity of 6.69%. The business had revenue of $238.50 million for the quarter, compared to analysts’ expectations of $245.73 million. During the same quarter last year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, analysts anticipate that Quanex Building Products Co. will post 0.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a dividend yield of 1.69%. Quanex Building Products’s payout ratio is 49.23%.

In other news, Director Susan F. Davis sold 5,489 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.10, for a total transaction of $99,350.90. Following the transaction, the director now owns 30,671 shares of the company’s stock, valued at $555,145.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.98% of the company’s stock.

Separately, Zacks Investment Research raised shares of Quanex Building Products from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.33.

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

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