Connor Clark & Lunn Investment Management Ltd. Sells 11,220 Shares of Quanex Building Products Co. (NYSE:NX)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Quanex Building Products Co. (NYSE:NX) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 71,249 shares of the construction company’s stock after selling 11,220 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Quanex Building Products were worth $1,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in Quanex Building Products by 69.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. Quarry LP boosted its holdings in shares of Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Quanex Building Products by 1.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 70,230 shares of the construction company’s stock valued at $1,702,000 after buying an additional 1,019 shares during the period. Franklin Resources Inc. increased its holdings in Quanex Building Products by 6.4% during the third quarter. Franklin Resources Inc. now owns 19,203 shares of the construction company’s stock valued at $562,000 after buying an additional 1,150 shares during the last quarter. Finally, KBC Group NV increased its holdings in Quanex Building Products by 69.8% during the fourth quarter. KBC Group NV now owns 2,843 shares of the construction company’s stock valued at $69,000 after buying an additional 1,169 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Quanex Building Products Stock Performance

Shares of NX opened at $20.15 on Thursday. Quanex Building Products Co. has a 52 week low of $18.14 and a 52 week high of $39.31. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The stock has a market cap of $951.26 million, a price-to-earnings ratio of 17.99, a PEG ratio of 0.68 and a beta of 1.33. The business has a 50-day simple moving average of $21.31 and a two-hundred day simple moving average of $25.65.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, March 17th. Quanex Building Products’s payout ratio is 52.46%.

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.