Quanex Building Products (NYSE:NX) Price Target Raised to $33.00 at Benchmark

Quanex Building Products (NYSE:NX) had its price objective raised by Benchmark from $31.00 to $33.00 in a research report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the construction company’s stock.

Separately, StockNews.com downgraded Quanex Building Products from a strong-buy rating to a buy rating in a research report on Friday, August 25th.

Quanex Building Products Stock Performance

Shares of NYSE NX opened at $28.30 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.26 and a current ratio of 2.12. The firm has a market cap of $932.49 million, a price-to-earnings ratio of 11.69 and a beta of 1.44. The business’s 50-day simple moving average is $27.08 and its 200-day simple moving average is $23.97. Quanex Building Products has a 52 week low of $18.00 and a 52 week high of $29.63.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.32 annualized dividend and a yield of 1.13%. Quanex Building Products’s dividend payout ratio is presently 13.22%.

Insiders Place Their Bets

In other news, Director William C. Griffiths sold 25,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $29.09, for a total value of $727,250.00. Following the sale, the director now directly owns 135,915 shares in the company, valued at $3,953,767.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Quanex Building Products news, Director William C. Griffiths sold 9,223 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $27.03, for a total transaction of $249,297.69. Following the transaction, the director now owns 201,692 shares of the company’s stock, valued at $5,451,734.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director William C. Griffiths sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $29.09, for a total value of $727,250.00. Following the transaction, the director now directly owns 135,915 shares in the company, valued at approximately $3,953,767.35. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,784 shares of company stock worth $2,194,117. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors and hedge funds have recently made changes to their positions in NX. State of Wyoming boosted 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 valued at $34,000 after buying an additional 413 shares during the period. Captrust Financial Advisors boosted its stake in shares of Quanex Building Products by 63.1% in the first quarter. Captrust Financial Advisors now owns 2,316 shares of the construction company’s stock valued at $49,000 after buying an additional 896 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Quanex Building Products by 139.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,600 shares of the construction company’s stock valued at $66,000 after buying an additional 2,095 shares during the period. FMR LLC boosted its stake in shares of Quanex Building Products by 43.7% in the second quarter. FMR LLC now owns 2,938 shares of the construction company’s stock valued at $67,000 after buying an additional 893 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of Quanex Building Products by 1,444.0% in the second quarter. Lazard Asset Management LLC now owns 2,810 shares of the construction company’s stock valued at $75,000 after buying an additional 2,628 shares during the period. Institutional investors and hedge funds own 99.88% 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, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.