Empowered Funds LLC Takes Position in Quanex Building Products Corporation $NX

Empowered Funds LLC purchased a new position in Quanex Building Products Corporation (NYSE:NX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 204,721 shares of the construction company’s stock, valued at approximately $3,812,000.

A number of other hedge funds also recently bought and sold shares of NX. Royal Bank of Canada grew its position in Quanex Building Products by 22.6% during the 1st quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock valued at $476,000 after purchasing an additional 4,720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Quanex Building Products by 9.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company’s stock worth $521,000 after buying an additional 2,347 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Quanex Building Products by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company’s stock worth $4,586,000 after buying an additional 49,895 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Quanex Building Products by 887.4% in the first quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock worth $1,579,000 after buying an additional 76,353 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Quanex Building Products by 8.0% during the second quarter. Sei Investments Co. now owns 72,103 shares of the construction company’s stock valued at $1,363,000 after buying an additional 5,313 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

NYSE NX opened at $18.51 on Wednesday. Quanex Building Products Corporation has a one year low of $11.04 and a one year high of $22.98. The stock has a 50-day moving average of $18.94 and a 200 day moving average of $18.78. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 2.28. The company has a market capitalization of $850.16 million, a price-to-earnings ratio of -3.29, a PEG ratio of 0.83 and a beta of 0.94.

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

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. Quanex Building Products’s dividend payout ratio is -5.68%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NX shares. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Friday, July 17th. Benchmark reaffirmed a “buy” rating on shares of Quanex Building Products in a research report on Thursday, August 27th. Finally, Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Quanex Building Products has an average rating of “Hold” and a consensus price target of $28.00.

Quanex Building Products Company Profile

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.