Bank of New York Mellon Corp Trims Stock Position in Quanex Building Products Corporation (NYSE:NX)

Bank of New York Mellon Corp trimmed its position in Quanex Building Products Corporation (NYSE:NX) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,914 shares of the construction company’s stock after selling 9,934 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of Quanex Building Products worth $7,955,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. raised its holdings in shares of Quanex Building Products by 2.7% during the 4th quarter. American Century Companies Inc. now owns 904,990 shares of the construction company’s stock valued at $21,937,000 after buying an additional 23,612 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Quanex Building Products during the 4th quarter valued at approximately $195,000. Fox Run Management L.L.C. acquired a new position in Quanex Building Products during the 4th quarter valued at approximately $562,000. LPL Financial LLC bought a new stake in Quanex Building Products during the 4th quarter valued at $632,000. Finally, Vanguard Group Inc. raised its stake in Quanex Building Products by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,267,847 shares of the construction company’s stock valued at $127,693,000 after acquiring an additional 51,142 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Stock Performance

Shares of NYSE NX opened at $19.40 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.41 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $891.69 million, a price-to-earnings ratio of 32.88, a PEG ratio of 0.51 and a beta of 1.03. The stock’s fifty day simple moving average is $18.78 and its 200 day simple moving average is $19.43. Quanex Building Products Corporation has a 52-week low of $15.30 and a 52-week high of $34.97.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.12. Quanex Building Products had a return on equity of 10.02% and a net margin of 1.05%. The company had revenue of $452.48 million during the quarter, compared to the consensus estimate of $440.05 million. As a group, sell-side analysts forecast that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.65%. Quanex Building Products’s dividend payout ratio is 54.24%.

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.