Empowered Funds LLC Acquires 31,870 Shares of Quanex Building Products Co. (NYSE:NX)

Empowered Funds LLC increased its position in Quanex Building Products Co. (NYSE:NX - Free Report) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 248,813 shares of the construction company's stock after acquiring an additional 31,870 shares during the quarter. Empowered Funds LLC owned about 0.53% of Quanex Building Products worth $6,905,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Quanex Building Products by 13.7% in the first quarter. BNP Paribas Financial Markets now owns 20,577 shares of the construction company's stock valued at $791,000 after acquiring an additional 2,480 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Quanex Building Products by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company's stock worth $598,000 after acquiring an additional 304 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Quanex Building Products during the first quarter worth approximately $216,000. ProShare Advisors LLC bought a new position in Quanex Building Products in the 1st quarter valued at $256,000. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Quanex Building Products by 224.5% in 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 during the last quarter. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

NYSE NX traded down $0.52 during trading on Friday, reaching $29.95. 172,148 shares of the company's stock were exchanged, compared to its average volume of 322,927. The business has a 50 day moving average price of $28.74 and a 200-day moving average price of $29.58. The stock has a market capitalization of $1.42 billion, a P/E ratio of 13.31, a PEG ratio of 0.73 and a beta of 1.25. 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 fifty-two week low of $24.85 and a fifty-two week high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The company had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products's dividend payout ratio (DPR) is currently 14.22%.

Wall Street Analysts Forecast Growth

NX has been the subject of a number of analyst reports. StockNews.com raised Quanex Building Products from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. Benchmark reiterated a "buy" rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

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.