Allspring Global Investments Holdings LLC Acquires 147,444 Shares of Quanex Building Products Co. (NYSE:NX)

Allspring Global Investments Holdings LLC boosted its stake in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,347,818 shares of the construction company's stock after acquiring an additional 147,444 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 10.11% of Quanex Building Products worth $92,902,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NX. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company's stock valued at $28,000 after buying an additional 393 shares during the period. Innealta Capital LLC acquired a new stake in Quanex Building Products in the second quarter worth about $46,000. nVerses Capital LLC lifted its position in Quanex Building Products by 900.0% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company's stock valued at $55,000 after purchasing an additional 1,800 shares during the period. Quest Partners LLC boosted its stake in shares of Quanex Building Products by 9,011.1% in the 2nd quarter. Quest Partners LLC now owns 3,280 shares of the construction company's stock valued at $91,000 after purchasing an additional 3,244 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Quanex Building Products in the 2nd quarter valued at about $101,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Quanex Building Products Trading Down 1.2 %

NYSE:NX traded down $0.37 during trading hours on Monday, hitting $30.22. The stock had a trading volume of 397,192 shares, compared to its average volume of 358,281. The business's 50 day moving average is $27.69 and its 200-day moving average is $30.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.02 and a beta of 1.26. Quanex Building Products Co. has a one year low of $24.85 and a one year high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping 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 business had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. During the same quarter last year, the business posted $0.97 EPS. Sell-side analysts anticipate that Quanex Building Products Co. will post 2.15 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.06%. Quanex Building Products's payout ratio is 13.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NX shares. Benchmark restated a "buy" rating and issued a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com upgraded Quanex Building Products from a "hold" rating to a "buy" rating in a report 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.