Quanex Building Products (NYSE:NX) Announces Earnings Results

Quanex Building Products (NYSE:NX) posted its quarterly earnings data on Thursday. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03, FiscalAI reports. The firm had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.28 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%.

Quanex Building Products Stock Performance

Shares of NYSE NX traded down $0.31 during mid-day trading on Thursday, reaching $17.82. 465,149 shares of the company’s stock were exchanged, compared to its average volume of 495,853. The firm has a market capitalization of $818.38 million, a price-to-earnings ratio of -3.39, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. Quanex Building Products has a 52 week low of $11.04 and a 52 week high of $22.98. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.31 and a quick ratio of 1.21. The firm has a 50-day moving average price of $18.84 and a two-hundred day moving average price of $17.76.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Monday, June 15th. Quanex Building Products’s payout ratio is presently -6.08%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NX shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. Zacks Research downgraded shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $28.00.

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in Quanex Building Products by 42.6% in the 4th quarter. Invesco Ltd. now owns 386,664 shares of the construction company’s stock valued at $5,947,000 after acquiring an additional 115,494 shares during the period. State of Tennessee Department of Treasury raised its stake in Quanex Building Products by 26.3% in the 4th quarter. State of Tennessee Department of Treasury now owns 21,138 shares of the construction company’s stock valued at $325,000 after acquiring an additional 4,407 shares during the period. XTX Topco Ltd raised its stake in Quanex Building Products by 160.2% in the 4th quarter. XTX Topco Ltd now owns 78,775 shares of the construction company’s stock valued at $1,212,000 after acquiring an additional 48,501 shares during the period. VARCOV Co. bought a new stake in Quanex Building Products in the 4th quarter valued at about $1,113,000. Finally, Numerai GP LLC raised its stake in Quanex Building Products by 4.2% in the 4th quarter. Numerai GP LLC now owns 92,781 shares of the construction company’s stock valued at $1,427,000 after acquiring an additional 3,701 shares during the period. 97.48% of the stock is currently owned by institutional investors.

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.