Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 1,000,000 Quanex Building Products Corporation $NX

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Quanex Building Products Corporation (NYSE:NX) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 1,000,000 shares of the construction company’s stock, valued at approximately $17,970,000.

A number of other institutional investors also recently modified their holdings of the business. Orion Porfolio Solutions LLC lifted its position in shares of Quanex Building Products by 5.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock worth $218,000 after buying an additional 614 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Quanex Building Products by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock valued at $345,000 after acquiring an additional 754 shares during the last quarter. Hantz Financial Services Inc. grew its position in Quanex Building Products by 199.9% in the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after acquiring an additional 1,415 shares during the last quarter. Comerica Bank raised its stake in Quanex Building Products by 3.6% during the fourth quarter. Comerica Bank now owns 47,375 shares of the construction company’s stock worth $729,000 after acquiring an additional 1,666 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Quanex Building Products during the third quarter worth about $26,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NX. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Quanex Building Products presently has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Trading Up 0.8%

NYSE NX opened at $18.74 on Tuesday. The company has a market cap of $860.78 million, a price-to-earnings ratio of -3.33, a price-to-earnings-growth ratio of 0.80 and a beta of 0.91. Quanex Building Products Corporation has a twelve month low of $11.04 and a twelve month high of $22.98. The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average is $17.47 and its 200 day moving average is $18.59.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm had revenue of $462.37 million during the quarter, compared to the consensus estimate of $459.27 million. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%. As a group, sell-side analysts expect that Quanex Building Products Corporation will post 1.66 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 15th. Quanex Building Products’s payout ratio is -5.68%.

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.