Quanex Building Products (NYSE:NX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Quanex Building Products Corporation (NYSE:NX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.43 and traded as high as $20.53. Quanex Building Products shares last traded at $20.2210, with a volume of 449,007 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on NX. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Benchmark dropped their target price on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, December 15th. Wall Street Zen downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Quanex Building Products currently has an average rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Trading Down 1.2%

The firm has a market cap of $915.37 million, a price-to-earnings ratio of -3.79, a price-to-earnings-growth ratio of 0.74 and a beta of 0.93. The business has a 50 day moving average of $19.32 and a 200 day moving average of $16.47. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $409.09 million for the quarter, compared to analysts’ expectations of $405.75 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. On average, research analysts forecast that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, March 17th. Quanex Building Products’s dividend payout ratio is currently -6.08%.

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds and other institutional investors have recently made changes to their positions in NX. LSV Asset Management boosted its stake in Quanex Building Products by 658.9% in the 3rd quarter. LSV Asset Management now owns 204,900 shares of the construction company’s stock worth $2,914,000 after buying an additional 177,900 shares during the last quarter. First Eagle Investment Management LLC boosted its position in shares of Quanex Building Products by 30.2% in the third quarter. First Eagle Investment Management LLC now owns 407,687 shares of the construction company’s stock worth $5,797,000 after acquiring an additional 94,619 shares during the last quarter. Villanova Investment Management Co LLC grew its holdings in Quanex Building Products by 105.8% in the third quarter. Villanova Investment Management Co LLC now owns 144,059 shares of the construction company’s stock valued at $2,049,000 after purchasing an additional 74,074 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Quanex Building Products in the third quarter valued at approximately $2,440,000. Finally, SG Americas Securities LLC acquired a new position in Quanex Building Products during the third quarter worth approximately $942,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.