Quanex Building Products (NYSE:NX) Shares Gap Down to $24.79

Quanex Building Products Co. (NYSE:NX – Get Rating)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $24.79, but opened at $23.75. Quanex Building Products shares last traded at $21.53, with a volume of 32,504 shares traded.

Wall Street Analysts Forecast Growth

Separately, Benchmark restated a “buy” rating and issued a $31.00 price objective on shares of Quanex Building Products in a report on Tuesday, March 7th.

Quanex Building Products Stock Down 16.8 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.01 and a quick ratio of 1.14. The business has a fifty day moving average of $25.18 and a 200 day moving average of $23.10. The stock has a market cap of $685.41 million, a price-to-earnings ratio of 8.63 and a beta of 1.37.

Quanex Building Products (NYSE:NX – Get Rating) last announced its quarterly earnings results on Thursday, December 15th. The construction company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.57 by $0.18. Quanex Building Products had a return on equity of 18.59% and a net margin of 6.50%. The company had revenue of $307.53 million for the quarter, compared to the consensus estimate of $304.40 million.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.32 annualized dividend and a yield of 1.55%. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.39%.

Insider Buying and Selling at Quanex Building Products

In other Quanex Building Products news, SVP Paul Cornett sold 2,000 shares of the stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the transaction, the senior vice president now owns 37,627 shares in the company, valued at $940,675. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 2,704 shares of company stock worth $69,012 over the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming grew its stake in shares of Quanex Building Products by 40.4% in the fourth quarter. State of Wyoming now owns 1,435 shares of the construction company’s stock worth $34,000 after acquiring an additional 413 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Quanex Building Products by 1.9% in the second quarter. Texas Permanent School Fund now owns 24,131 shares of the construction company’s stock worth $549,000 after acquiring an additional 460 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Quanex Building Products by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 33,886 shares of the construction company’s stock worth $802,000 after acquiring an additional 465 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Quanex Building Products by 3.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,803 shares of the construction company’s stock worth $422,000 after acquiring an additional 581 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of Quanex Building Products by 1.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 49,324 shares of the construction company’s stock worth $1,168,000 after acquiring an additional 635 shares during the last quarter. Institutional investors and hedge funds own 98.49% of the company’s stock.

Quanex Building Products Company Profile

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Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. The firm operates through the following segments: North American Fenestration, European Fenestration, North American Cabinet Components, and Unallocated Corporate and Other.