Quanex Building Products (NYSE:NX) Stock Price Down 2.6% – What’s Next?

Shares of Quanex Building Products Co. (NYSE:NX) dropped 2.6% on Wednesday . The stock traded as low as $30.06 and last traded at $30.06. Approximately 20,017 shares traded hands during trading, a decline of 94% from the average daily volume of 350,585 shares. The stock had previously closed at $30.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NX shares. Benchmark reiterated 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 raised Quanex Building Products from a “hold” rating to a “buy” rating in a report on Tuesday, October 8th.

Quanex Building Products Price Performance

The stock has a fifty day moving average of $29.21 and a two-hundred day moving average of $29.36. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 0.77 and a beta of 1.25. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.35 million for the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter in the prior year, the company posted $0.97 earnings per share. On average, equities research analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Monday, September 16th. Quanex Building Products’s dividend payout ratio is presently 14.22%.

Hedge Funds Weigh In On Quanex Building Products

Several large investors have recently added to or reduced their stakes in NX. GAMMA Investing LLC raised its stake in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares during the period. Quarry LP boosted its holdings in Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after acquiring an additional 677 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Quanex Building Products during the third quarter valued at about $37,000. Public Employees Retirement System of Ohio raised its holdings in shares of Quanex Building Products by 69.4% in the 3rd 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 period. Finally, Innealta Capital LLC purchased a new position in shares of Quanex Building Products in the 2nd quarter worth about $46,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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.