Principal Financial Group Inc. Increases Stake in Quanex Building Products Co. (NYSE:NX)

Principal Financial Group Inc. grew its holdings in Quanex Building Products Co. (NYSE:NX - Free Report) by 28.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 222,522 shares of the construction company's stock after purchasing an additional 49,716 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of Quanex Building Products worth $6,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. State Board of Administration of Florida Retirement System increased its holdings in Quanex Building Products by 224.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company's stock worth $1,177,000 after acquiring an additional 21,189 shares during the period. Susquehanna International Group Ltd. bought a new stake in Quanex Building Products during the 2nd quarter worth approximately $611,000. Victory Capital Management Inc. increased its holdings in Quanex Building Products by 174.2% during the 2nd quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company's stock worth $2,296,000 after acquiring an additional 52,767 shares during the period. Farther Finance Advisors LLC increased its holdings in Quanex Building Products by 10,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company's stock worth $59,000 after acquiring an additional 2,090 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in Quanex Building Products during the 3rd quarter worth approximately $15,343,000. Institutional investors own 97.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on NX shares. Benchmark reissued a "buy" rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com raised shares of Quanex Building Products from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th.

Quanex Building Products Trading Down 0.6 %

Shares of NX opened at $29.72 on Thursday. The stock has a market capitalization of $1.40 billion, a P/E ratio of 13.21, a PEG ratio of 0.73 and a beta of 1.25. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $29.51. Quanex Building Products Co. has a twelve month low of $24.85 and a twelve month 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 net margin of 6.88% and a return on equity of 14.68%. The business had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. During the same period in the prior year, the business earned $0.97 EPS. On average, research analysts anticipate that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products's dividend payout ratio (DPR) is 14.22%.

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.