Artemis Investment Management LLP Reduces Stock Position in Quanex Building Products Co. (NYSE:NX)

Artemis Investment Management LLP trimmed its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 39.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,035 shares of the construction company’s stock after selling 218,874 shares during the period. Artemis Investment Management LLP’s holdings in Quanex Building Products were worth $8,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. lifted its position in Quanex Building Products by 38.7% in the third quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock valued at $3,197,000 after acquiring an additional 32,158 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Quanex Building Products by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 318,044 shares of the construction company’s stock valued at $8,826,000 after purchasing an additional 74,396 shares during the period. Principal Financial Group Inc. grew its stake in Quanex Building Products by 28.8% during the 3rd quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after buying an additional 49,716 shares during the last quarter. Susquehanna International Group Ltd. acquired a new position in Quanex Building Products during the second quarter worth approximately $611,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Quanex Building Products by 292.2% in 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 acquiring an additional 61,444 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Insiders Place Their Bets

In other Quanex Building Products news, CEO George Laverne Wilson purchased 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 acquisition, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.15% of the stock is owned by insiders.

Quanex Building Products Stock Performance

NYSE NX opened at $24.21 on Monday. The firm has a market cap of $1.14 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.69 and a beta of 1.30. Quanex Building Products Co. has a 52-week low of $21.48 and a 52-week high of $39.31. The business’s 50-day moving average price is $26.93 and its 200 day moving average price is $28.06. 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 announced its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 in the prior year, the company posted $0.95 EPS. On average, equities research analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 1.32%. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

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

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.