Principal Financial Group Inc. Has $47.42 Million Stock Holdings in Quanex Building Products Co. (NYSE:NX)

Principal Financial Group Inc. boosted its holdings in Quanex Building Products Co. (NYSE:NX - Free Report) by 779.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,956,454 shares of the construction company's stock after purchasing an additional 1,733,932 shares during the quarter. Principal Financial Group Inc. owned about 4.14% of Quanex Building Products worth $47,424,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quarry LP boosted its holdings 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 purchasing an additional 677 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Quanex Building Products during the 3rd quarter worth approximately $37,000. Public Employees Retirement System of Ohio boosted its position 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 worth $41,000 after buying an additional 605 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 purchasing an additional 2,090 shares in the last quarter. Finally, KBC Group NV lifted its stake in Quanex Building Products by 69.8% in the 4th quarter. KBC Group NV now owns 2,843 shares of the construction company's stock valued at $69,000 after buying an additional 1,169 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company's stock.

Analyst Upgrades and Downgrades

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

Quanex Building Products Stock Down 1.9 %

Shares of NX traded down $0.39 during midday trading on Friday, hitting $20.34. The company had a trading volume of 593,268 shares, compared to its average volume of 410,620. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The stock has a market cap of $960.18 million, a price-to-earnings ratio of 18.16, a PEG ratio of 0.70 and a beta of 1.28. Quanex Building Products Co. has a 52 week low of $19.57 and a 52 week high of $39.31. The company's 50 day moving average price is $23.21 and its 200 day moving average price is $26.72.

Quanex Building Products (NYSE:NX - Get Free Report) last released its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the business earned $0.95 earnings per share. On average, equities research analysts predict that Quanex Building Products Co. will post 2.18 EPS for the current year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, December 16th. Quanex Building Products's dividend payout ratio (DPR) is presently 28.57%.

Insider Activity

In other Quanex Building Products news, CEO George Laverne Wilson purchased 4,328 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the purchase, the chief executive officer now owns 287,644 shares in the company, valued at $6,624,441.32. This trade represents a 1.53 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.15% of the company's stock.

About Quanex Building Products

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.