Quanex Building Products’ (NX) Buy Rating Reiterated at Benchmark

Benchmark restated their buy rating on shares of Quanex Building Products (NYSE:NX) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $38.00 target price on the construction company’s stock.

Quanex Building Products Stock Up 3.1 %

NYSE:NX opened at $34.75 on Tuesday. The firm has a market capitalization of $1.15 billion, a P/E ratio of 13.21, a PEG ratio of 1.00 and a beta of 1.35. Quanex Building Products has a 1-year low of $18.71 and a 1-year high of $39.31. The company’s fifty day moving average price is $35.67 and its 200-day moving average price is $32.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $239.16 million for the quarter, compared to analyst estimates of $232.90 million. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. As a group, equities research analysts anticipate that Quanex Building Products will post 2.4 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.92%. Quanex Building Products’s dividend payout ratio is presently 12.17%.

Insider Activity at Quanex Building Products

In related news, SVP Paul Cornett sold 3,064 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total transaction of $115,574.08. Following the sale, the senior vice president now owns 43,902 shares in the company, valued at $1,655,983.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.15% of the stock is owned by company insiders.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NX. Strs Ohio purchased a new position in Quanex Building Products during the third quarter valued at $59,000. DekaBank Deutsche Girozentrale purchased a new position in Quanex Building Products during the third quarter valued at $67,000. GAMMA Investing LLC lifted its holdings in Quanex Building Products by 157.1% during the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after purchasing an additional 1,090 shares in the last quarter. Quantbot Technologies LP purchased a new position in Quanex Building Products during the third quarter valued at $83,000. Finally, Acadian Asset Management LLC purchased a new position in Quanex Building Products during the third quarter valued at $112,000. 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.