Quanex Building Products (NYSE:NX) Reaches New 52-Week Low – Here’s What Happened

Shares of Quanex Building Products Corporation (NYSE:NX) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $12.63 and last traded at $12.74, with a volume of 46087 shares changing hands. The stock had previously closed at $13.06.

Analysts Set New Price Targets

NX has been the subject of a number of analyst reports. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Quanex Building Products Stock Performance

The firm has a market capitalization of $586.77 million, a PE ratio of -2.06, a price-to-earnings-growth ratio of 0.52 and a beta of 0.99. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.18 and a current ratio of 2.20. The business’s fifty day simple moving average is $14.38 and its 200-day simple moving average is $17.53.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 4th. The construction company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.16). The company had revenue of $495.27 million for the quarter, compared to the consensus estimate of $491.65 million. Quanex Building Products had a positive return on equity of 10.48% and a negative net margin of 15.45%.During the same quarter in the prior year, the company posted $0.73 EPS. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 16th. Quanex Building Products’s payout ratio is -5.14%.

Insider Buying and Selling

In other news, Director Bradley E. Hughes purchased 6,500 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was acquired at an average price of $15.27 per share, for a total transaction of $99,255.00. Following the acquisition, the director directly owned 6,500 shares of the company’s stock, valued at $99,255. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Several institutional investors have recently modified their holdings of NX. GSA Capital Partners LLP lifted its position in shares of Quanex Building Products by 195.4% during the first quarter. GSA Capital Partners LLP now owns 55,313 shares of the construction company’s stock worth $1,028,000 after purchasing an additional 36,586 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Quanex Building Products by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company’s stock worth $298,000 after purchasing an additional 997 shares in the last quarter. Northern Trust Corp increased its holdings in Quanex Building Products by 1.5% during the 1st quarter. Northern Trust Corp now owns 497,810 shares of the construction company’s stock worth $9,254,000 after purchasing an additional 7,564 shares during the period. Vestcor Inc raised its position in Quanex Building Products by 46.7% during the 1st quarter. Vestcor Inc now owns 28,400 shares of the construction company’s stock valued at $528,000 after purchasing an additional 9,040 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Quanex Building Products by 62.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,242 shares of the construction company’s stock worth $80,000 after buying an additional 1,624 shares in the last quarter. 97.48% of the stock is owned by institutional investors.

Quanex Building Products Company 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.