Quanex Building Products (NYSE:NX) Shares Gap Up – What’s Next?

Quanex Building Products Corporation (NYSE:NX) gapped up before the market opened on Friday . The stock had previously closed at $16.00, but opened at $16.86. Quanex Building Products shares last traded at $17.3530, with a volume of 3,697 shares trading hands.

Analysts Set New Price Targets

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

Quanex Building Products Trading Up 2.7%

The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $17.77 and its two-hundred day simple moving average is $18.37. The stock has a market cap of $794.13 million, a P/E ratio of -3.07, a price-to-earnings-growth ratio of 0.69 and a beta of 0.91.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. As a group, equities research analysts predict that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, June 15th. This represents a $0.32 annualized dividend and a yield of 1.9%. Quanex Building Products’s dividend payout ratio is -5.68%.

Hedge Funds Weigh In On Quanex Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Danske Bank A S bought a new position in shares of Quanex Building Products during the third quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its holdings in shares of Quanex Building Products by 199.9% in the 4th 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 last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Quanex Building Products in the 4th quarter worth approximately $35,000. Meeder Asset Management Inc. acquired a new position in Quanex Building Products during the 4th quarter valued at approximately $42,000. Finally, Quarry LP boosted its position in Quanex Building Products by 132.0% during the 3rd 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 currently 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.