Goldman Sachs Group Inc. Has $4.59 Million Position in Quanex Building Products Corporation $NX

Goldman Sachs Group Inc. lifted its stake in Quanex Building Products Corporation (NYSE:NX) by 25.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,666 shares of the construction company’s stock after acquiring an additional 49,895 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.54% of Quanex Building Products worth $4,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of NX. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 106.5% in the first quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company’s stock worth $49,000 after acquiring an additional 1,350 shares during the last quarter. Signaturefd LLC increased its stake in shares of Quanex Building Products by 25,254.5% in the first quarter. Signaturefd LLC now owns 2,789 shares of the construction company’s stock worth $52,000 after acquiring an additional 2,778 shares during the last quarter. Algert Global LLC increased its stake in shares of Quanex Building Products by 15.8% in the first quarter. Algert Global LLC now owns 10,170 shares of the construction company’s stock worth $189,000 after acquiring an additional 1,389 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in shares of Quanex Building Products in the first quarter worth $190,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Quanex Building Products by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company’s stock worth $298,000 after acquiring an additional 997 shares during the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Quanex Building Products currently has an average rating of “Sell”.

Quanex Building Products Trading Up 1.3%

Shares of NYSE:NX opened at $15.23 on Wednesday. The company has a current ratio of 2.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.97. Quanex Building Products Corporation has a 1 year low of $14.39 and a 1 year high of $32.23. The firm has a fifty day moving average price of $19.54 and a 200 day moving average price of $18.72. The stock has a market capitalization of $698.75 million, a PE ratio of -2.45, a P/E/G ratio of 0.54 and a beta of 0.99.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, September 4th. The construction company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.16). Quanex Building Products had a negative net margin of 15.45% and a positive return on equity of 10.48%. The firm had revenue of $495.27 million for the quarter, compared to the consensus estimate of $491.65 million. During the same quarter last year, the company earned $0.73 earnings per share. Quanex Building Products has set its FY 2025 guidance at EPS. Analysts expect that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Tuesday, September 16th. Quanex Building Products’s dividend payout ratio is -5.14%.

Insider Transactions at Quanex Building Products

In other news, Director Bradley E. Hughes purchased 6,500 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was bought at an average cost of $15.27 per share, for a total transaction of $99,255.00. Following the completion of the acquisition, the director directly owned 6,500 shares of the company’s stock, valued at approximately $99,255. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.15% of the stock is owned by company insiders.

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.