Quanex Building Products (NYSE:NX) Shares Gap Down – Should You Sell?

Quanex Building Products Corporation (NYSE:NXGet Free Report)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $20.71, but opened at $20.02. Quanex Building Products shares last traded at $20.01, with a volume of 12,005 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NX. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Quanex Building Products has an average rating of “Hold” and a consensus price target of $28.00.

Get Our Latest Report on Quanex Building Products

Quanex Building Products Trading Up 3.2%

The company has a 50-day moving average of $18.49 and a 200 day moving average of $18.85. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.28 and a quick ratio of 1.23. The company has a market cap of $935.09 million, a PE ratio of -3.62, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92.

Quanex Building Products (NYSE:NXGet Free Report) last issued its quarterly earnings data on Thursday, June 4th. The construction company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The business had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%. Analysts predict that Quanex Building Products Corporation will post 1.66 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.08 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.6%. Quanex Building Products’s dividend payout ratio (DPR) is currently -5.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NX. BlackRock Inc. purchased a new stake in shares of Quanex Building Products in the second quarter worth approximately $136,089,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Quanex Building Products during the 1st quarter valued at $17,970,000. Arrowstreet Capital Limited Partnership grew its position in Quanex Building Products by 961.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 592,785 shares of the construction company’s stock valued at $10,652,000 after acquiring an additional 536,949 shares during the last quarter. Bank of America Corp DE bought a new position in Quanex Building Products in the 2nd quarter valued at $9,501,000. Finally, Dimensional Fund Advisors LP increased its stake in Quanex Building Products by 36.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock worth $31,296,000 after purchasing an additional 462,992 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Quanex Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products and related companies with MarketBeat.com's FREE daily email newsletter.