Quanex Building Products (NYSE:NX) Shares Gap Down on Disappointing Earnings

Quanex Building Products Corporation (NYSE:NX)’s stock price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $20.91, but opened at $17.00. Quanex Building Products shares last traded at $17.91, with a volume of 473,852 shares.

The construction company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.16). The firm had revenue of $495.27 million for the quarter, compared to the consensus estimate of $491.65 million. Quanex Building Products had a positive return on equity of 9.75% and a negative net margin of 15.45%.During the same quarter in the previous year, the business earned $0.73 EPS. Quanex Building Products has set its FY 2025 guidance at EPS.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.8%. Quanex Building Products’s dividend payout ratio (DPR) is presently 54.24%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded Quanex Building Products to a “hold” rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Quanex Building Products currently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Institutional Investors Weigh In On Quanex Building Products

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in shares of Quanex Building Products by 29.2% in the 4th quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company’s stock worth $48,190,000 after acquiring an additional 449,646 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Quanex Building Products by 31.1% during the first quarter. Segall Bryant & Hamill LLC now owns 1,367,758 shares of the construction company’s stock valued at $25,427,000 after buying an additional 324,548 shares during the last quarter. Bastion Asset Management Inc. raised its stake in Quanex Building Products by 161.3% during the second quarter. Bastion Asset Management Inc. now owns 314,601 shares of the construction company’s stock valued at $6,093,000 after buying an additional 194,205 shares during the last quarter. Nuveen LLC purchased a new position in Quanex Building Products during the first quarter valued at $3,413,000. Finally, Systematic Financial Management LP increased its holdings in shares of Quanex Building Products by 14.5% in the 1st quarter. Systematic Financial Management LP now owns 1,202,505 shares of the construction company’s stock worth $22,355,000 after purchasing an additional 152,275 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Trading Down 13.0%

The firm has a market cap of $835.96 million, a P/E ratio of -2.92, a price-to-earnings-growth ratio of 0.57 and a beta of 0.99. The stock has a fifty day simple moving average of $20.23 and a 200 day simple moving average of $18.97. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.26 and a current ratio of 2.41.

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.