Quanex Building Products (NYSE:NX) Reaches New 1-Year Low – Here’s Why

Quanex Building Products Co. (NYSE:NX)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $21.13 and last traded at $21.17, with a volume of 10841 shares changing hands. The stock had previously closed at $21.72.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd.

Quanex Building Products Price Performance

The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 0.69 and a beta of 1.30. The stock’s 50 day moving average price is $25.63 and its two-hundred day moving average price is $27.80. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same quarter in the previous year, the business earned $0.95 earnings per share. Analysts anticipate that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s payout ratio is presently 28.57%.

Insider Activity at Quanex Building Products

In other news, CEO George Laverne Wilson bought 4,328 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the purchase, the chief executive officer now owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. The trade was a 1.53 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Quanex Building Products by 779.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company’s stock worth $47,424,000 after acquiring an additional 1,733,932 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in shares of Quanex Building Products by 1.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 70,230 shares of the construction company’s stock valued at $1,702,000 after buying an additional 1,019 shares during the period. Rhumbline Advisers grew its holdings in shares of Quanex Building Products by 7.5% in the 4th quarter. Rhumbline Advisers now owns 140,090 shares of the construction company’s stock valued at $3,396,000 after buying an additional 9,774 shares during the period. Choreo LLC acquired a new position in shares of Quanex Building Products in the 4th quarter valued at $318,000. Finally, EMC Capital Management grew its holdings in shares of Quanex Building Products by 96.3% in the 4th quarter. EMC Capital Management now owns 9,448 shares of the construction company’s stock valued at $229,000 after buying an additional 4,634 shares during the period. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

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.