Benchmark reaffirmed their buy rating on shares of Quanex Building Products (NYSE:NX – Free Report) in a report issued on Wednesday morning, Benzinga reports. Benchmark currently has a $38.00 price objective on the construction company’s stock.
Separately, StockNews.com downgraded shares of Quanex Building Products from a buy rating to a hold rating in a research note on Tuesday.
View Our Latest Analysis on Quanex Building Products
Quanex Building Products Price Performance
Quanex Building Products (NYSE:NX – Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, sell-side analysts expect that Quanex Building Products will post 2.33 earnings per share for the current year.
Quanex Building Products Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, September 16th. Quanex Building Products’s payout ratio is presently 13.11%.
Institutional Trading of Quanex Building Products
A number of large investors have recently made changes to their positions in NX. Janney Montgomery Scott LLC raised its stake in Quanex Building Products by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company’s stock valued at $598,000 after buying an additional 304 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Quanex Building Products by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock worth $787,000 after acquiring an additional 474 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in Quanex Building Products by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 28,972 shares of the construction company’s stock worth $1,113,000 after purchasing an additional 477 shares during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in Quanex Building Products by 1.5% in the first quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock valued at $1,687,000 after purchasing an additional 660 shares in the last quarter. Finally, TD Asset Management Inc increased its stake in Quanex Building Products by 3.4% in the second 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. 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.
Further Reading
- Five stocks we like better than Quanex Building Products
- Natural Gas Prices Continue To Rally, These Stocks Should Benefit
- Goldilocks CPI Report Leads Market to Sell Off, Lower Lows Ahead
- The Basics of Support and Resistance
- GameStop: Earnings Won’t Save It, Dilution Points to Trouble
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Dividend Aristocrats or Dividend Kings: Which Is Best for You?
Receive News & Ratings for Quanex Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products and related companies with MarketBeat.com's FREE daily email newsletter.