Quanex Building Products Co. (NYSE:NX) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Quanex Building Products Co. (NYSE:NX) by 4.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 180,101 shares of the construction company’s stock after acquiring an additional 8,172 shares during the quarter. Principal Financial Group Inc. owned approximately 0.54% of Quanex Building Products worth $6,921,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Cornerstone Investment Partners LLC acquired a new position in Quanex Building Products in the first quarter valued at approximately $249,000. Oliver Luxxe Assets LLC lifted its holdings in Quanex Building Products by 1.5% in the first quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock valued at $1,687,000 after acquiring an additional 660 shares during the period. GAMMA Investing LLC raised its stake in shares of Quanex Building Products by 157.1% during the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after buying an additional 1,090 shares during the period. Vanguard Group Inc. raised its stake in shares of Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after buying an additional 30,198 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Quanex Building Products during the 4th quarter worth approximately $303,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Trading Down 0.6 %

NYSE:NX traded down $0.17 during trading hours on Friday, hitting $26.74. The company had a trading volume of 39,636 shares, compared to its average volume of 181,660. The company has a current ratio of 2.22, a quick ratio of 1.37 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average of $31.40 and a 200 day moving average of $32.85. The company has a market cap of $885.36 million, a P/E ratio of 11.03, a P/E/G ratio of 0.82 and a beta of 1.29. Quanex Building Products Co. has a 1 year low of $24.97 and a 1 year high of $39.31.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.53 by $0.13. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. The business had revenue of $266.20 million for the quarter, compared to analyst estimates of $268.80 million. During the same quarter in the prior year, the company posted $0.66 EPS. Sell-side analysts expect that Quanex Building Products Co. will post 2.33 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, June 14th. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.11%.

Analysts Set New Price Targets

NX has been the subject of several research analyst reports. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research note on Tuesday, April 23rd. StockNews.com downgraded Quanex Building Products from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

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.