Quanex Building Products (NYSE:NX) Trading Down 5.6% – Here’s What Happened

Quanex Building Products Corporation (NYSE:NXGet Free Report)’s stock price traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $22.37 and last traded at $21.6480. Approximately 69,597 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 454,994 shares. The stock had previously closed at $22.93.

Analysts Set New Price Targets

Several research firms have recently weighed in on NX. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. Finally, Weiss Ratings raised shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.00.

Get Our Latest Analysis on Quanex Building Products

Quanex Building Products Stock Down 1.4%

The company has a debt-to-equity ratio of 0.85, a current ratio of 2.23 and a quick ratio of 1.21. The firm has a 50-day moving average of $19.32 and a 200 day moving average of $18.75. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 0.90 and a beta of 0.94.

Quanex Building Products (NYSE:NXGet Free Report) last released its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.66 by $0.13. The company had revenue of $501.85 million during the quarter, compared to the consensus estimate of $497.51 million. Quanex Building Products had a return on equity of 11.61% and a net margin of 2.43%.During the same quarter in the prior year, the firm posted ($6.04) EPS. As a group, sell-side analysts forecast that Quanex Building Products Corporation will post 1.77 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 15th. Quanex Building Products’s dividend payout ratio (DPR) is 32.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in Quanex Building Products in the 2nd quarter valued at $26,000. Danske Bank A S bought a new position in shares of Quanex Building Products in the third quarter valued at about $26,000. Hantz Financial Services Inc. lifted its stake in shares of Quanex Building Products by 199.9% during the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after buying an additional 1,415 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Quanex Building Products during the 4th quarter worth about $35,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Quanex Building Products in the 2nd quarter valued at about $36,000. 97.48% of the stock is currently owned by 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.

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