Choreo LLC Invests $318,000 in Quanex Building Products Co. (NYSE:NX)

Choreo LLC purchased a new position in shares of Quanex Building Products Co. (NYSE:NX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,233 shares of the construction company’s stock, valued at approximately $318,000.

A number of other hedge funds have also modified their holdings of the business. EMC Capital Management grew its holdings in shares of Quanex Building Products by 96.3% during the 4th quarter. EMC Capital Management now owns 9,448 shares of the construction company’s stock worth $229,000 after purchasing an additional 4,634 shares during the period. Pacer Advisors Inc. acquired a new position in Quanex Building Products during the 4th quarter worth about $25,380,000. KBC Group NV lifted its stake in Quanex Building Products by 69.8% during the 4th quarter. KBC Group NV now owns 2,843 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,169 shares in the last quarter. Inspire Investing LLC lifted its stake in Quanex Building Products by 11.6% during the 4th quarter. Inspire Investing LLC now owns 16,582 shares of the construction company’s stock worth $402,000 after acquiring an additional 1,720 shares in the last quarter. Finally, Hennessy Advisors Inc. lifted its stake in Quanex Building Products by 6.8% during the 4th quarter. Hennessy Advisors Inc. now owns 272,618 shares of the construction company’s stock worth $6,608,000 after acquiring an additional 17,400 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Price Performance

NX opened at $22.19 on Friday. The stock’s 50-day moving average price is $23.92 and its 200 day moving average price is $27.08. Quanex Building Products Co. has a 12-month low of $19.57 and a 12-month high of $39.31. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.70 and a beta of 1.28.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 11.79% and a net margin of 2.59%. During the same period last year, the company posted $0.95 EPS. As a group, sell-side analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Insider Buying and Selling at Quanex Building Products

In other Quanex Building Products news, CEO George Laverne Wilson bought 4,328 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the transaction, the chief executive officer now owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. The trade was a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Quanex Building Products 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.