Quanex Building Products Co. (NYSE:NX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Quanex Building Products Co. (NYSE:NX) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The fund 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 0.07% of Quanex Building Products worth $76,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in NX. Victory Capital Management Inc. increased its holdings in shares of Quanex Building Products by 38.7% in the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after acquiring an additional 32,158 shares during the period. JPMorgan Chase & Co. grew its position in Quanex Building Products by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 318,044 shares of the construction company’s stock worth $8,826,000 after purchasing an additional 74,396 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Quanex Building Products by 28.8% in the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock valued at $6,175,000 after purchasing an additional 49,716 shares during the period. Geode Capital Management LLC increased its stake in shares of Quanex Building Products by 37.9% in the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after purchasing an additional 286,128 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Quanex Building Products by 292.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock valued at $2,289,000 after buying an additional 61,444 shares during the last quarter. 97.48% of the stock is owned by institutional investors.

Quanex Building Products Price Performance

Shares of NYSE NX opened at $21.85 on Thursday. The stock has a market cap of $1.03 billion, a P/E ratio of 19.51, a P/E/G ratio of 0.70 and a beta of 1.28. The firm’s 50-day simple moving average is $24.05 and its 200 day simple moving average is $27.12. Quanex Building Products Co. has a fifty-two week low of $19.57 and a fifty-two week high of $39.31. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company posted $0.95 earnings per share. Equities analysts expect that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.46%. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Insider Transactions at Quanex Building Products

In related news, CEO George Laverne Wilson acquired 4,328 shares of Quanex Building Products stock in a transaction dated Thursday, December 19th. The stock was acquired at an average cost of $23.03 per share, with a total value 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. The trade was a 1.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

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

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.