Quanex Building Products (NYSE:NX) Sets New 1-Year Low – What’s Next?

Shares of Quanex Building Products Co. (NYSE:NX) hit a new 52-week low on Tuesday . The stock traded as low as $22.75 and last traded at $22.92, with a volume of 19876 shares. The stock had previously closed at $23.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd. Benchmark reissued a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Price Performance

The company has a market cap of $1.08 billion, a PE ratio of 20.45, a P/E/G ratio of 0.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The company has a 50-day moving average price of $28.15 and a two-hundred day moving average price of $28.36.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period in the prior year, the business earned $0.95 earnings per share. Sell-side analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.40%. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Insider Activity

In related news, CEO George Laverne Wilson acquired 4,328 shares of Quanex Building Products stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the purchase, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. The trade was a 1.53 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after acquiring an additional 605 shares during the period. Quarry LP increased its holdings in shares of Quanex Building Products by 150.8% in the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares during the period. TD Asset Management Inc lifted its position in Quanex Building Products by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock valued at $669,000 after purchasing an additional 800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Quanex Building Products by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,318 shares of the construction company’s stock valued at $479,000 after purchasing an additional 1,038 shares during the period. Institutional investors own 97.48% of the company’s stock.

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.