Quanex Building Products (NYSE:NX) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Quanex Building Products (NYSE:NX) from a hold rating to a strong sell rating in a report issued on Thursday morning,Zacks.com reports.

Quanex Building Products Trading Down 4.7%

NX opened at $14.47 on Thursday. The firm has a market cap of $663.89 million, a P/E ratio of -2.33, a P/E/G ratio of 0.55 and a beta of 0.99. The business has a fifty day simple moving average of $19.73 and a 200-day simple moving average of $18.78. Quanex Building Products has a 52 week low of $14.39 and a 52 week high of $32.23. The company has a quick ratio of 1.18, a current ratio of 2.20 and a debt-to-equity ratio of 0.97.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 4th. The construction company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.16). Quanex Building Products had a negative net margin of 15.45% and a positive return on equity of 10.48%. The company had revenue of $495.27 million during the quarter, compared to analysts’ expectations of $491.65 million. During the same quarter last year, the business posted $0.73 earnings per share. Quanex Building Products has set its FY 2025 guidance at EPS. On average, equities analysts expect that Quanex Building Products will post 2.18 earnings per share for the current year.

Quanex Building Products Dividend Announcement

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 issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.2%. Quanex Building Products’s dividend payout ratio (DPR) is currently -5.14%.

Insider Activity

In related news, Director Bradley E. Hughes purchased 6,500 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were purchased at an average price of $15.27 per share, with a total value of $99,255.00. Following the completion of the acquisition, the director directly owned 6,500 shares in the company, valued at $99,255. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently added to or reduced their stakes in NX. The Manufacturers Life Insurance Company boosted its holdings in Quanex Building Products by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 23,598 shares of the construction company’s stock valued at $572,000 after purchasing an additional 1,048 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Quanex Building Products by 10.2% during the 4th quarter. Northern Trust Corp now owns 490,246 shares of the construction company’s stock worth $11,884,000 after acquiring an additional 45,193 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Quanex Building Products by 54.4% during the 4th quarter. Deutsche Bank AG now owns 35,859 shares of the construction company’s stock worth $869,000 after acquiring an additional 12,628 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Quanex Building Products by 3.5% during the 4th quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company’s stock worth $710,000 after acquiring an additional 997 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Quanex Building Products by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,704 shares of the construction company’s stock worth $623,000 after acquiring an additional 1,395 shares in the last quarter. Hedge funds and other institutional investors own 97.48% 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, 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.