Quanex Building Products Co. (NYSE:NX) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Quanex Building Products Co. (NYSE:NX) by 292.2% during the third quarter, HoldingsChannel reports. The firm owned 82,469 shares of the construction company’s stock after purchasing an additional 61,444 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Quanex Building Products were worth $2,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Quanex Building Products by 4.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock worth $1,145,000 after purchasing an additional 1,390 shares during the last quarter. Shell Asset Management Co. purchased a new position in Quanex Building Products during the 1st quarter worth approximately $145,000. Price T Rowe Associates Inc. MD lifted its stake in Quanex Building Products by 14.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock valued at $363,000 after acquiring an additional 1,171 shares during the period. EMC Capital Management boosted its holdings in shares of Quanex Building Products by 55.9% in the 1st quarter. EMC Capital Management now owns 9,448 shares of the construction company’s stock valued at $363,000 after acquiring an additional 3,387 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Quanex Building Products by 1.7% in the second quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock worth $1,702,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th.

Quanex Building Products Price Performance

NYSE:NX opened at $31.52 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The company has a 50 day moving average price of $29.15 and a 200-day moving average price of $29.39. Quanex Building Products Co. has a 1-year low of $24.85 and a 1-year high of $39.31. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 0.75 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share 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 previous year, the company earned $0.97 earnings per share. Equities research analysts forecast that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.08 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.02%. Quanex Building Products’s payout ratio is 14.22%.

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.