First Eagle Investment Management LLC Has $4.71 Million Stake in Quanex Building Products Co. (NYSE:NX)

First Eagle Investment Management LLC lowered its position in Quanex Building Products Co. (NYSE:NX - Free Report) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 194,368 shares of the construction company's stock after selling 34,967 shares during the period. First Eagle Investment Management LLC owned 0.41% of Quanex Building Products worth $4,711,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi boosted its position in Quanex Building Products by 171.0% during the fourth quarter. Amundi now owns 22,859 shares of the construction company's stock worth $519,000 after purchasing an additional 14,425 shares during the period. PNC Financial Services Group Inc. boosted its position in Quanex Building Products by 17.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 13,691 shares of the construction company's stock worth $332,000 after purchasing an additional 2,042 shares during the period. Assetmark Inc. boosted its position in Quanex Building Products by 805.8% during the fourth quarter. Assetmark Inc. now owns 6,060 shares of the construction company's stock worth $147,000 after purchasing an additional 5,391 shares during the period. Victory Capital Management Inc. boosted its position in Quanex Building Products by 22.2% during the fourth quarter. Victory Capital Management Inc. now owns 140,802 shares of the construction company's stock worth $3,413,000 after purchasing an additional 25,592 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Quanex Building Products by 4.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,618 shares of the construction company's stock worth $16,983,000 after purchasing an additional 31,348 shares during the period. Institutional investors and hedge funds own 97.48% of the company's stock.

Remove Ads

Quanex Building Products Stock Performance

Shares of NX traded up $0.06 during mid-day trading on Thursday, hitting $20.22. The company's stock had a trading volume of 364,755 shares, compared to its average volume of 432,512. Quanex Building Products Co. has a one year low of $18.14 and a one year 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. The firm has a market capitalization of $954.33 million, a PE ratio of 18.05, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33. The stock's 50-day moving average is $21.31 and its two-hundred day moving average is $25.65.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.32 annualized dividend and a dividend yield of 1.58%. Quanex Building Products's dividend payout ratio is 52.46%.

Wall Street Analyst Weigh In

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

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.