State of Alaska Department of Revenue Acquires 7,523 Shares of Quanex Building Products Co. (NYSE:NX)

State of Alaska Department of Revenue grew its holdings in Quanex Building Products Co. (NYSE:NX) by 38.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,964 shares of the construction company’s stock after purchasing an additional 7,523 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Quanex Building Products worth $748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NX. State Board of Administration of Florida Retirement System grew its stake in Quanex Building Products by 224.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock valued at $1,177,000 after acquiring an additional 21,189 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Quanex Building Products during the first quarter valued at approximately $983,000. Susquehanna International Group Ltd. purchased a new position in Quanex Building Products during the second quarter valued at approximately $611,000. Hillsdale Investment Management Inc. purchased a new position in Quanex Building Products during the first quarter valued at approximately $1,023,000. Finally, Victory Capital Management Inc. grew its stake in Quanex Building Products by 174.2% during the second quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock valued at $2,296,000 after acquiring an additional 52,767 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

NX stock opened at $31.17 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. Quanex Building Products Co. has a one year low of $24.85 and a one year high of $39.31. The stock has a market cap of $1.47 billion, a PE ratio of 13.85, a P/E/G ratio of 0.71 and a beta of 1.25. The firm has a 50 day simple moving average of $28.17 and a two-hundred day simple moving average of $29.75.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The company had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the prior year, the company earned $0.97 EPS. On average, analysts predict that Quanex Building Products Co. will post 2.15 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.03%. Quanex Building Products’s dividend payout ratio (DPR) is 14.22%.

Wall Street Analyst Weigh In

A number of research firms have commented on NX. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th.

Quanex Building Products 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.