Quanex Building Products (NYSE:NX) Stock Rating Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Quanex Building Products (NYSE:NX) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other research firms also recently issued reports on NX. Weiss Ratings upgraded shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a research note on Tuesday, September 8th. Benchmark reissued a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. Finally, Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Stock Down 2.0%

Shares of Quanex Building Products stock opened at $18.94 on Friday. 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 stock has a market cap of $867.97 million, a price-to-earnings ratio of 19.13, a PEG ratio of 0.74 and a beta of 0.92. The firm’s 50-day moving average is $20.03 and its two-hundred day moving average is $18.93. Quanex Building Products has a 1 year low of $11.04 and a 1 year high of $23.33.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, September 3rd. The construction company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Quanex Building Products had a net margin of 2.43% and a return on equity of 11.61%. The business had revenue of $501.85 million for the quarter, compared to the consensus estimate of $497.51 million. During the same quarter last year, the firm posted ($6.04) EPS. As a group, research analysts expect that Quanex Building Products will post 1.82 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 15th. Quanex Building Products’s payout ratio is presently 32.32%.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently added to or reduced their stakes in NX. BlackRock Inc. purchased a new position in Quanex Building Products in the second quarter valued at about $136,089,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Quanex Building Products during the first quarter valued at about $17,970,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Quanex Building Products by 961.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 592,785 shares of the construction company’s stock valued at $10,652,000 after buying an additional 536,949 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Quanex Building Products during the second quarter valued at about $9,501,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Quanex Building Products by 36.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock valued at $31,296,000 after buying an additional 462,992 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation (NYSE: NX) manufactures energy-efficient, engineered components used primarily in residential and commercial building products. Its offerings support the production of windows, doors, and other fenestration systems, as well as cabinetry and related interior products.

The company’s products include insulating glass components and spacer systems, window and door screens, weatherstripping and sealing products, extruded profiles, and other components designed to improve the performance, durability, and appearance of fenestration products.