Quanex Building Products Co. (NYSE:NX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 28.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,522 shares of the construction company's stock after purchasing an additional 49,716 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of Quanex Building Products worth $6,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NX. Franklin Resources Inc. boosted its position in Quanex Building Products by 6.4% in the third quarter. Franklin Resources Inc. now owns 19,203 shares of the construction company's stock valued at $562,000 after buying an additional 1,150 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company's stock valued at $28,894,000 after acquiring an additional 286,128 shares during the last quarter. Vestcor Inc increased its stake in shares of Quanex Building Products by 720.3% in the third quarter. Vestcor Inc now owns 19,360 shares of the construction company's stock worth $537,000 after acquiring an additional 17,000 shares during the period. Barclays PLC raised its holdings in shares of Quanex Building Products by 391.4% during the third quarter. Barclays PLC now owns 83,794 shares of the construction company's stock worth $2,325,000 after purchasing an additional 66,742 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company's stock valued at $41,000 after purchasing an additional 605 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

Insider Activity

In related news, CEO George Laverne Wilson acquired 4,328 shares of the business's stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares of the company's stock, valued at $6,624,441.32. The trade was a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.15% of the company's stock.

Quanex Building Products Price Performance

Shares of NX stock traded down $0.72 during trading hours on Thursday, reaching $23.52. The company had a trading volume of 284,607 shares, compared to its average volume of 380,921. 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 stock has a fifty day moving average of $28.53 and a 200-day moving average of $28.49. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.89 and a beta of 1.24. Quanex Building Products Co. has a 12-month low of $22.92 and a 12-month high of $39.31.

Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS 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 14.06%. During the same quarter last year, the firm posted $0.95 EPS. On average, equities analysts anticipate that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.36%. Quanex Building Products's dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

NX has been the subject of several analyst reports. StockNews.com cut Quanex Building Products from a "hold" rating to a "sell" rating in a report on Sunday, December 22nd. Benchmark restated a "buy" rating and set a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th.

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.