Quanex Building Products (NYSE:NX) Downgraded to “Buy” at StockNews.com

StockNews.com cut shares of Quanex Building Products (NYSE:NX) from a strong-buy rating to a buy rating in a research note published on Thursday.

Separately, Benchmark reissued a buy rating and issued a $38.00 target price on shares of Quanex Building Products in a report on Tuesday, April 23rd.

Quanex Building Products Trading Down 0.7 %

Shares of Quanex Building Products stock opened at $26.91 on Thursday. The firm has a market cap of $890.99 million, a price-to-earnings ratio of 11.03, a price-to-earnings-growth ratio of 0.82 and a beta of 1.29. Quanex Building Products has a 52-week low of $24.97 and a 52-week high of $39.31. The company’s 50-day simple moving average is $31.40 and its 200-day simple moving average is $32.85. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last released its earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.13. The company had revenue of $266.20 million for the quarter, compared to analysts’ expectations of $268.80 million. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. During the same quarter in the previous year, the firm posted $0.66 EPS. As a group, equities research analysts anticipate that Quanex Building Products will post 2.33 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.19%. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.11%.

Institutional Trading of Quanex Building Products

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Quanex Building Products by 157.1% in the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after purchasing an additional 1,090 shares during the last quarter. Shell Asset Management Co. acquired a new stake in Quanex Building Products during the 1st quarter valued at $145,000. SG Americas Securities LLC acquired a new stake in Quanex Building Products during the 1st quarter valued at $216,000. Mutual of America Capital Management LLC acquired a new position in shares of Quanex Building Products in the first quarter worth $219,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Quanex Building Products in the third quarter valued at $230,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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.