Allspring Global Investments Holdings LLC Lowers Holdings in Quanex Building Products Co. (NYSE:NX)

Allspring Global Investments Holdings LLC reduced its stake in Quanex Building Products Co. (NYSE:NX - Free Report) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,248,626 shares of the construction company's stock after selling 99,192 shares during the quarter. Allspring Global Investments Holdings LLC owned about 6.87% of Quanex Building Products worth $76,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Choreo LLC bought a new position in shares of Quanex Building Products in the fourth quarter worth approximately $318,000. EMC Capital Management lifted its position in Quanex Building Products by 96.3% during the fourth quarter. EMC Capital Management now owns 9,448 shares of the construction company's stock valued at $229,000 after buying an additional 4,634 shares during the period. Pacer Advisors Inc. purchased a new position in Quanex Building Products during the fourth quarter valued at $25,380,000. KBC Group NV lifted its position in Quanex Building Products by 69.8% during the fourth 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 during the period. Finally, Inspire Investing LLC lifted its position in Quanex Building Products by 11.6% during the fourth quarter. Inspire Investing LLC now owns 16,582 shares of the construction company's stock valued at $402,000 after buying an additional 1,720 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Quanex Building Products Stock Up 4.1 %

Shares of NX traded up $0.92 during trading hours on Friday, hitting $23.11. The company had a trading volume of 659,382 shares, compared to its average volume of 382,119. Quanex Building Products Co. has a 52-week low of $19.57 and a 52-week high of $39.31. The firm has a fifty day moving average price of $23.79 and a 200-day moving average price of $26.92. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 0.70 and a beta of 1.28.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its 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 return on equity of 11.79% and a net margin of 2.59%. During the same period last year, the business posted $0.95 earnings per share. On average, equities research analysts forecast that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products's dividend payout ratio (DPR) is 28.57%.

Insider Buying and Selling at Quanex Building Products

In other news, CEO George Laverne Wilson purchased 4,328 shares of the business's stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the purchase, the chief executive officer now directly 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.

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.