First Pacific Advisors LP Sells 67,443 Shares of Quanex Building Products Co. (NYSE:NX)

First Pacific Advisors LP reduced its position in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 47.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,057 shares of the construction company's stock after selling 67,443 shares during the period. First Pacific Advisors LP owned about 0.16% of Quanex Building Products worth $1,819,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NX. Quarry LP increased its stake in Quanex Building Products by 150.8% in the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company's stock valued at $31,000 after buying an additional 677 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Quanex Building Products in the 3rd quarter valued at about $37,000. Public Employees Retirement System of Ohio grew its holdings in shares of Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company's stock valued at $41,000 after acquiring an additional 605 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Quanex Building Products by 10,450.0% in the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company's stock valued at $59,000 after acquiring an additional 2,090 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Quanex Building Products during the third quarter worth about $75,000. 97.48% of the stock is currently owned by institutional investors.

Insider Transactions at Quanex Building Products

In related news, CEO George Laverne Wilson acquired 4,328 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 287,644 shares of the company's stock, valued at $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.15% of the stock is currently owned by corporate insiders.

Remove Ads

Analyst Ratings Changes

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

Quanex Building Products Stock Down 0.2 %

NX traded down $0.04 during trading on Wednesday, reaching $18.50. 158,554 shares of the stock were exchanged, compared to its average volume of 454,468. The stock has a market cap of $873.32 million, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.68 and a beta of 1.33. 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 stock's 50 day moving average price is $21.77 and its two-hundred day moving average price is $25.99. Quanex Building Products Co. has a twelve month low of $18.14 and a twelve month high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business posted $0.95 EPS. Equities analysts expect that Quanex Building Products Co. will post 2.18 EPS for the current year.

Quanex Building Products Dividend Announcement

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 is Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.73%. Quanex Building Products's payout ratio is 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.