Quanex Building Products (NYSE:NX) Sets New 12-Month Low – Here’s What Happened

Shares of Quanex Building Products Co. (NYSE:NX) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $19.54 and last traded at $19.59, with a volume of 350360 shares. The stock had previously closed at $20.11.

Analysts Set New Price Targets

Separately, StockNews.com lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Trading Down 2.6 %

The stock has a 50-day simple moving average of $22.70 and a 200 day simple moving average of $26.50. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The company has a market cap of $924.64 million, a price-to-earnings ratio of 17.49, a PEG ratio of 0.68 and a beta of 1.28.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping 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 11.79%. During the same period in the prior year, the firm posted $0.95 EPS. As a group, equities research analysts predict that Quanex Building Products Co. will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.63%. Quanex Building Products’s dividend payout ratio is presently 28.57%.

Insider Buying and Selling at Quanex Building Products

In related news, CEO George Laverne Wilson acquired 4,328 shares of the stock in a transaction on Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the transaction, the chief executive officer now owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Large investors have recently made changes to their positions in the company. Quarry LP grew its position in Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after buying an additional 677 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Quanex Building Products by 833.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company’s stock worth $34,000 after acquiring an additional 1,267 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Quanex Building Products during the 3rd quarter valued at about $37,000. Public Employees Retirement System of Ohio increased its stake 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 valued at $41,000 after purchasing an additional 605 shares in the last quarter. Finally, Federated Hermes Inc. acquired a new position in Quanex Building Products in the 4th quarter worth about $44,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.