Quanex Building Products (NYSE:NX) Trading Down 9.3% – What’s Next?

Shares of Quanex Building Products Co. (NYSE:NX) traded down 9.3% during trading on Tuesday . The stock traded as low as $18.90 and last traded at $18.53. 204,320 shares traded hands during trading, a decline of 51% from the average session volume of 419,791 shares. The stock had previously closed at $20.42.

Analyst Upgrades and Downgrades

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

Quanex Building Products Stock Performance

The business’s fifty day moving average price is $21.66 and its two-hundred day moving average price is $25.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. The stock has a market capitalization of $901.93 million, a P/E ratio of 17.06, a P/E/G ratio of 0.68 and a beta of 1.33.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 11.79% and a net margin of 2.59%. During the same period in the prior year, the firm earned $0.95 earnings per share. As a group, sell-side analysts forecast that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.08 per share. The ex-dividend date is Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.67%. Quanex Building Products’s payout ratio is 28.57%.

Insider Transactions at Quanex Building Products

In other news, CEO George Laverne Wilson purchased 4,328 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares in the company, valued at $6,624,441.32. This represents a 1.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

A number of large investors have recently modified their holdings of the business. Quarry LP lifted its stake in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Quanex Building Products during the 3rd quarter worth about $37,000. Sterling Capital Management LLC lifted its position in Quanex Building Products by 833.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company’s stock worth $34,000 after acquiring an additional 1,267 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of 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 during the last quarter. Finally, Federated Hermes Inc. acquired a new stake 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.