Quanex Building Products (NYSE:NX) Stock Price Down 2.6% – What’s Next?

Shares of Quanex Building Products Co. (NYSE:NX) traded down 2.6% during trading on Wednesday . The company traded as low as $30.06 and last traded at $30.06. 20,017 shares were traded during mid-day trading, a decline of 94% from the average session volume of 350,585 shares. The stock had previously closed at $30.87.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NX. StockNews.com raised Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th. Benchmark reiterated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Trading Down 5.4 %

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The business has a fifty day simple moving average of $29.21 and a 200 day simple moving average of $29.36. The company has a market cap of $1.38 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.77 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter last year, the business posted $0.97 EPS. Analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Quanex Building Products by 38.7% in the third quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after buying an additional 32,158 shares during the period. Susquehanna International Group Ltd. acquired a new stake in Quanex Building Products during the second quarter valued at $611,000. Farther Finance Advisors LLC boosted its position in Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 2,090 shares during the last quarter. Principal Financial Group Inc. boosted its position in Quanex Building Products by 28.8% during the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock valued at $6,175,000 after purchasing an additional 49,716 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Quanex Building Products during the third quarter valued at $15,343,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

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.