Loomis Sayles & Co. L P Increases Position in Quanex Building Products Co. (NYSE:NX)

Loomis Sayles & Co. L P lifted its stake in Quanex Building Products Co. (NYSE:NX) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 365,517 shares of the construction company’s stock after purchasing an additional 19,361 shares during the period. Loomis Sayles & Co. L P owned approximately 0.77% of Quanex Building Products worth $10,143,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NX. Victory Capital Management Inc. increased its position in shares of 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 buying an additional 32,158 shares in the last quarter. Susquehanna International Group Ltd. acquired a new stake in Quanex Building Products in the 2nd quarter valued at about $611,000. Farther Finance Advisors LLC increased its holdings in Quanex Building Products by 10,450.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after acquiring an additional 2,090 shares in the last quarter. Principal Financial Group Inc. raised its position in Quanex Building Products by 28.8% during the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after acquiring an additional 49,716 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Quanex Building Products in the third quarter valued at about $15,343,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Quanex Building Products stock opened at $28.81 on Thursday. The firm’s 50-day moving average is $29.21 and its two-hundred day moving average is $29.36. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $1.36 billion, a P/E ratio of 12.80, a P/E/G ratio of 0.77 and a beta of 1.25. Quanex Building Products Co. has a 12-month low of $24.85 and a 12-month high of $39.31.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The firm had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. During the same period in the previous year, the company earned $0.97 EPS. Equities analysts predict that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.11%. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a report on Wednesday, September 11th.

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.