Bank of New York Mellon Corp Purchases 46,635 Shares of Quanex Building Products Co. (NYSE:NX)

Bank of New York Mellon Corp raised its position in shares of Quanex Building Products Co. (NYSE:NX - Free Report) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437,848 shares of the construction company's stock after purchasing an additional 46,635 shares during the period. Bank of New York Mellon Corp owned 0.93% of Quanex Building Products worth $10,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Quanex Building Products by 779.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company's stock valued at $47,424,000 after acquiring an additional 1,733,932 shares during the last quarter. Pacer Advisors Inc. purchased a new stake in Quanex Building Products in the 4th quarter worth about $25,380,000. State Street Corp boosted its stake in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company's stock valued at $44,530,000 after buying an additional 351,778 shares during the period. Impax Asset Management Group plc bought a new position in Quanex Building Products during the fourth quarter valued at approximately $8,187,000. Finally, Geode Capital Management LLC increased its holdings in shares of Quanex Building Products by 37.9% during 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. Institutional investors own 97.48% of the company's stock.

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Quanex Building Products Trading Up 1.0 %

Shares of NYSE:NX traded up $0.21 during trading on Monday, hitting $19.86. 455,022 shares of the company's stock were exchanged, compared to its average volume of 431,967. The firm has a 50-day moving average price of $21.49 and a two-hundred day moving average price of $25.80. Quanex Building Products Co. has a 1-year low of $18.14 and a 1-year high of $39.31. The firm has a market cap of $937.38 million, a P/E ratio of 17.73, a PEG ratio of 0.68 and a beta of 1.33. 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 (NYSE:NX - Get Free Report) last announced its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the business earned $0.95 EPS. Equities analysts predict that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.61%. Quanex Building Products's dividend payout ratio is 52.46%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.