Quanex Building Products (NYSE:NX) Trading 10.4% Higher – Time to Buy?

Quanex Building Products Corporation (NYSE:NX) shares shot up 10.4% on Thursday . The company traded as high as $18.27 and last traded at $18.2870. 16,601 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 497,166 shares. The stock had previously closed at $16.56.

Wall Street Analysts Forecast Growth

NX has been the topic of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. Zacks Research lowered Quanex Building Products from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Wall Street Zen cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Quanex Building Products currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

Quanex Building Products Trading Up 0.8%

The company has a market cap of $823.07 million, a PE ratio of -3.19, a price-to-earnings-growth ratio of 0.71 and a beta of 0.91. The company’s 50 day simple moving average is $18.37 and its two-hundred day simple moving average is $18.20. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.28 and a quick ratio of 1.23.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results 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. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. The business had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. As a group, sell-side analysts anticipate that Quanex Building Products Corporation will post 1.66 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. Quanex Building Products’s payout ratio is presently -5.68%.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently modified their holdings of NX. Danske Bank A S purchased a new position in Quanex Building Products during the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. increased its stake in Quanex Building Products by 199.9% during the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,415 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Quanex Building Products during the fourth quarter worth about $35,000. Meeder Asset Management Inc. acquired a new stake in shares of Quanex Building Products during the fourth quarter worth about $42,000. Finally, Quarry LP boosted its stake in shares of Quanex Building Products by 132.0% in the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after purchasing an additional 2,136 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

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.