Quanex Building Products (NYSE:NX) Trading Up 4.9% After Insider Buying Activity

Quanex Building Products Co. (NYSE:NX) traded up 4.9% during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $24.53 and last traded at $24.26. 98,020 shares changed hands during trading, a decline of 73% from the average session volume of 368,616 shares. The stock had previously closed at $23.13.

Specifically, CEO George Laverne Wilson acquired 4,328 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were acquired at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The business has a 50-day simple moving average of $29.36 and a 200-day simple moving average of $28.80. The firm has a market capitalization of $1.19 billion, a PE ratio of 22.41, a P/E/G ratio of 0.89 and a beta of 1.24.

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 return on equity of 14.06% and a net margin of 2.59%. During the same period in the prior year, the business earned $0.95 EPS. Equities research analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. Quanex Building Products’s payout ratio is 28.57%.

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in shares of Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the period. Public Employees Retirement System of Ohio grew its stake 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 worth $41,000 after purchasing an additional 605 shares in the last quarter. Quarry LP grew its stake in 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 purchasing an additional 677 shares in the last quarter. TD Asset Management Inc grew 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 worth $669,000 after purchasing an additional 800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Quanex Building Products by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 17,318 shares of the construction company’s stock worth $479,000 after purchasing an additional 1,038 shares in 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.