Quanex Building Products Co. (NYSE:NX) Sees Significant Decrease in Short Interest

Quanex Building Products Co. (NYSE:NX - Get Free Report) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 2,350,000 shares, a decline of 19.0% from the March 15th total of 2,900,000 shares. Approximately 5.1% of the company's stock are short sold. Based on an average trading volume of 507,900 shares, the days-to-cover ratio is presently 4.6 days.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in Quanex Building Products by 833.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company's stock worth $34,000 after acquiring an additional 1,267 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company's stock worth $41,000 after acquiring an additional 605 shares during the last quarter. Federated Hermes Inc. bought a new stake in Quanex Building Products during the 4th quarter worth $44,000. GAMMA Investing LLC lifted its holdings in Quanex Building Products by 106.5% during the 1st quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company's stock worth $49,000 after buying an additional 1,350 shares during the period. Finally, KBC Group NV lifted its holdings in Quanex Building Products by 69.8% during the 4th quarter. KBC Group NV now owns 2,843 shares of the construction company's stock worth $69,000 after buying an additional 1,169 shares during the period. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

Shares of NX traded up $0.60 during mid-day trading on Wednesday, reaching $16.69. The company's stock had a trading volume of 22,823 shares, compared to its average volume of 479,676. The stock has a market cap of $787.92 million, a P/E ratio of 14.90, a PEG ratio of 0.68 and a beta of 1.08. The business has a 50-day simple moving average of $18.95 and a two-hundred day simple moving average of $23.96. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. Quanex Building Products has a 1-year low of $15.30 and a 1-year high of $35.92.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.92%. Quanex Building Products's dividend payout ratio (DPR) is presently 52.46%.

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.