Vanguard Group Discloses Stake in Quanex Building Products Corp

The Vanguard Group, Inc. reported a significant stake in Quanex Building Products Corporation. According to a recent Form 8.3 filed, Vanguard holds an 11.23% interest in the company, owning 3,717,571 common shares. This position was disclosed under the rules of the Takeover Code, specifically Rule 8.3, relevant for entities with interests in securities representing 1% or more.

The disclosure also noted trading activities involving Quanex shares. On 24 April 2024, transactions included the purchase of 31 shares and the sale of 749 shares at a price of 33.70 USD each. The form obliges the disclosing party to report any dealings in securities of the companies involved when those dealings influence shareholding percentages.

This filing also mentions dealings related to another company, Tyman plc, indicating Vanguard's involvement in broader market activities. No other derivative or stock-settled transactions were reported in this disclosure. Importantly, no indemnity or dealing arrangements were entered that could affect trading decisions of the relevant securities.