Quanex Building Products Co. (NYSE:NX) Shares Acquired by KBC Group NV

KBC Group NV lifted its holdings in Quanex Building Products Co. (NYSE:NX) by 69.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,843 shares of the construction company’s stock after purchasing an additional 1,169 shares during the period. KBC Group NV’s holdings in Quanex Building Products were worth $69,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NX. Victory Capital Management Inc. boosted its stake in shares of Quanex Building Products by 38.7% in the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock valued at $3,197,000 after buying an additional 32,158 shares during the period. JPMorgan Chase & Co. raised its holdings in Quanex Building Products by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 318,044 shares of the construction company’s stock valued at $8,826,000 after acquiring an additional 74,396 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Quanex Building Products by 28.8% in the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after acquiring an additional 49,716 shares during the last quarter. Geode Capital Management LLC grew its holdings in Quanex Building Products by 37.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after acquiring an additional 286,128 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Quanex Building Products by 292.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock valued at $2,289,000 after purchasing an additional 61,444 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Quanex Building Products news, CEO George Laverne Wilson acquired 4,328 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $23.03 per share, with a total value of $99,673.84. Following the transaction, the chief executive officer now owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.15% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $21.51 on Tuesday. The stock’s 50-day simple moving average is $24.35 and its 200-day simple moving average is $27.24. The firm has a market capitalization of $1.02 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. Quanex Building Products Co. has a fifty-two week low of $19.57 and a fifty-two week high of $39.31. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same period last year, the company earned $0.95 EPS. As a group, equities research analysts forecast that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is currently 28.57%.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.