Quanex Building Products (NYSE:NX) Sets New 52-Week Low – What’s Next?

Quanex Building Products Co. (NYSE:NX)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $24.85 and last traded at $25.06, with a volume of 730132 shares traded. The stock had previously closed at $26.44.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NX. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday.

Quanex Building Products Trading Down 7.4 %

The business’s 50-day moving average is $29.59 and its two-hundred day moving average is $28.92. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $1.16 billion, a PE ratio of 21.86, a PEG ratio of 0.89 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $0.95 earnings per share. On average, analysts predict that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.31%. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NX. Allspring Global Investments Holdings LLC grew its position in shares of Quanex Building Products by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock worth $92,902,000 after buying an additional 147,444 shares in the last quarter. State Street Corp increased its position in shares of Quanex Building Products by 28.1% in the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after purchasing an additional 351,778 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Quanex Building Products by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after purchasing an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Quanex Building Products by 0.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after purchasing an additional 6,566 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Quanex Building Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock worth $32,058,000 after purchasing an additional 3,400 shares during the last quarter. 97.48% of the stock is 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.