Quanex Building Products Co. (NYSE:NX) Short Interest Up 21.3% in March

Quanex Building Products Co. (NYSE:NX) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 2,900,000 shares, a growth of 21.3% from the February 28th total of 2,390,000 shares. Based on an average daily trading volume, of 540,500 shares, the short-interest ratio is presently 5.4 days. Approximately 6.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Quanex Building Products Trading Up 2.9 %

Shares of NX traded up $0.53 on Wednesday, hitting $18.84. 109,509 shares of the stock traded hands, compared to its average volume of 462,314. Quanex Building Products has a 1 year low of $17.96 and a 1 year high of $38.98. The stock’s 50 day moving average is $20.62 and its two-hundred day moving average is $25.19. The firm has a market capitalization of $889.42 million, a P/E ratio of 16.82, a P/E/G ratio of 0.68 and a beta of 1.33. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Monday, March 17th. Quanex Building Products’s dividend payout ratio is currently 52.46%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Quarry LP increased its position in shares of Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Quanex Building Products in the 3rd quarter valued at $37,000. Sterling Capital Management LLC raised its position in Quanex Building Products by 833.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company’s stock valued at $34,000 after purchasing an additional 1,267 shares during the period. Public Employees Retirement System of Ohio raised its position in Quanex Building Products by 69.4% in the third 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 during the period. Finally, Federated Hermes Inc. acquired a new position in shares of Quanex Building Products during the fourth quarter worth about $44,000. Hedge funds and other 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.