According to the most recent report that Comerica Bank filed with the SEC, the bank liquidated 3.3% of its stake in Quanex Building Products Co. (NYSE:NX) in the third quarter. Following the transaction during this period, the institutional investor’s portfolio contained 128,684 shares of the construction company after 4,446 of those shares were sold. Comerica Bank owned 0.39 percent of Quanex Building Products stock at the end of the most recent quarter when those shares were worth $2,599,000 in the market.
Recent transactions have caused several institutional investors and other hedge funds to change the number of shares of the company they currently hold in their portfolios. Mirae Asset Global Investments Co.Ltd. paid a total of $233,000 to acquire shares of Quanex Building Products during the second fiscal quarter. Allspring Global Investments Holdings LLC successfully acquired an additional 2.8% of the total number of shares in Quanex Building Products during the second quarter. Allspring Global Investments Holdings LLC now owns a total of 3,743,001 shares in the construction company. These shares are valued at $85,152,000 and were acquired by the Company after purchasing an additional 101,009 shares last quarter. The Alaska Department of Treasury increased Quanex Building Products’ stock by 8.8 percent during the fiscal second quarter. Following an additional purchase of 2,040 shares last quarter, the Alaska Department of Treasury now holds a total of 25,264 shares in the construction company, valued at $74,000. This brings the cumulative total number of shares held by the department to 25,264. During the second quarter, Euclidean Technologies Management LLC completed a 5.2 percent increase in the number of shares of Quanex Building Products it owned. After purchasing an additional 4,630 shares during the Company’s most recent fiscal quarter, Euclidean Technologies Management LLC now holds a total of 94,321 shares of the construction company with a market value of $2,146,000.
In summary, Martingale Asset Management LP increased the percentage of Quanex Building Products in which it was interested by 27.2% in the second quarter. Martingale Asset Management LP now directly owns 27,728 shares of the construction company’s stock, which is valued at $631,000 as a result of purchasing an additional 5,927 shares of the company’s stock over the past three months. Institutional investors and hedge funds together hold 98.49% of the company’s total number of shares, making it the majority of shareholders.
Separately, the company suggested a “strong buy” for shares of Quanex Building Products in a research note published by StockNews.com on Thursday, November 10. The note was published on the same day.
NYSE: NX stock started Wednesday’s trading session at $24.87. The company’s share price is currently trading with a 50-day moving average of $23.90 and a 200-day moving average of $22.70. The debt-to-equity ratio is 0.6%, the current ratio is 2.01%, and the short-term ratio is 1.14. All of these numbers are presented in the table below:
The company’s market value is currently estimated at $823.94 million.
The price-to-earnings ratio is currently estimated at 9.31.
Its beta is currently estimated at 1.36.
Quanex Building Products Co. bottomed at $18.00 over the past year while the company peaked at $25.94 over the same period.
In addition, the company announced a quarterly dividend, which was paid on the Friday following December 30 (December 30). On Monday, December 19th, the dividend payments were sent to the already registered shareholders. The amount of each dividend payment was $0.08 per share. That works out to a dividend payment of $0.32 per year, which translates to a full-year dividend yield of 1.29%. Friday, December 16 was the day that customers were expected to pay the dividend. 11.99% is the payment percentage that Quanex Building Products requires from its customers.
Quanex Building Products Corporation and its subsidiaries in the United States, Europe, Canada, Asia and other countries can source the necessary window parts. The three distinct divisions that make up the company are North American Fenestration, European Fenestration and North American Cabinet Components.