Federated Hermes Inc. Makes New Investment in Quanex Building Products Co. (NYSE:NX)

Federated Hermes Inc. purchased a new stake in shares of Quanex Building Products Co. (NYSE:NX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,813 shares of the construction company’s stock, valued at approximately $44,000.

Other large investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd lifted its stake in shares of Quanex Building Products by 6,056.8% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 17,670 shares of the construction company’s stock worth $428,000 after buying an additional 17,383 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Quanex Building Products by 60.5% during the 4th quarter. Russell Investments Group Ltd. now owns 276,088 shares of the construction company’s stock valued at $6,692,000 after purchasing an additional 104,056 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Quanex Building Products by 53.8% in the 4th quarter. Wells Fargo & Company MN now owns 41,635 shares of the construction company’s stock worth $1,009,000 after purchasing an additional 14,572 shares in the last quarter. ExodusPoint Capital Management LP boosted its holdings in shares of Quanex Building Products by 301.9% during the 4th quarter. ExodusPoint Capital Management LP now owns 140,986 shares of the construction company’s stock valued at $3,418,000 after acquiring an additional 105,907 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Quanex Building Products by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 1,053,115 shares of the construction company’s stock worth $25,533,000 after acquiring an additional 12,128 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

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

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $16.16 on Friday. The stock’s fifty day moving average is $19.19 and its 200 day moving average is $24.11. Quanex Building Products Co. has a one year low of $15.53 and a one year high of $35.92. 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 cap of $763.04 million, a P/E ratio of 14.43, a P/E/G ratio of 0.68 and a beta of 1.08.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.98%. Quanex Building Products’s dividend payout ratio (DPR) is presently 52.46%.

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.