Quanex Building Products Co. (NYSE:NX) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $17.00.
Separately, Zacks Investment Research downgraded Quanex Building Products from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 10th.
Shares of NX traded up $0.41 during mid-day trading on Friday, reaching $18.40. The company had a trading volume of 476,822 shares, compared to its average volume of 195,298. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.17 and a current ratio of 2.15. The company has a market capitalization of $596.92 million, a price-to-earnings ratio of 28.31 and a beta of 1.22. The firm has a 50-day moving average price of $17.58 and a 200 day moving average price of $17.02. Quanex Building Products has a 52 week low of $10.70 and a 52 week high of $19.55.
Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Quanex Building Products had a positive return on equity of 6.69% and a negative net margin of 1.03%. The company had revenue of $238.50 million during the quarter, compared to analyst estimates of $245.73 million. During the same quarter last year, the company earned $0.33 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts forecast that Quanex Building Products will post 0.85 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.74%. Quanex Building Products’s dividend payout ratio (DPR) is presently 49.23%.
In related news, Director Susan F. Davis sold 5,489 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $18.10, for a total value of $99,350.90. Following the completion of the transaction, the director now directly owns 30,671 shares in the company, valued at approximately $555,145.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.98% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Quanex Building Products during the second quarter valued at $27,809,000. Nuveen Asset Management LLC bought a new stake in shares of Quanex Building Products in the second quarter worth approximately $4,938,000. Citadel Advisors LLC grew its stake in shares of Quanex Building Products by 18.7% in the second quarter. Citadel Advisors LLC now owns 161,623 shares of the construction company’s stock worth $3,053,000 after acquiring an additional 25,415 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Quanex Building Products by 127.1% during the second quarter. Cubist Systematic Strategies LLC now owns 24,832 shares of the construction company’s stock valued at $469,000 after purchasing an additional 13,899 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Quanex Building Products by 166.7% during the second quarter. Morgan Stanley now owns 538,981 shares of the construction company’s stock valued at $10,181,000 after purchasing an additional 336,892 shares during the last quarter. 99.47% of the stock is currently owned by hedge funds and other institutional investors.
Quanex Building Products Company Profile
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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