Quanex Building Products (NYSE:NX) Shares Gap Down – Should You Sell?

Quanex Building Products Corporation (NYSE:NX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $19.92, but opened at $18.60. Quanex Building Products shares last traded at $19.3110, with a volume of 18,837 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NX shares. Wall Street Zen lowered shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Quanex Building Products has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Stock Down 1.3%

The firm has a 50-day moving average price of $19.34 and a two-hundred day moving average price of $16.59. The company has a market capitalization of $895.64 million, a P/E ratio of -3.71, a PEG ratio of 0.72 and a beta of 0.93. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. The business had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million. Equities research analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. Quanex Building Products’s dividend payout ratio is currently -6.08%.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC raised its holdings in Quanex Building Products by 5.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock valued at $218,000 after acquiring an additional 614 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Quanex Building Products by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock worth $345,000 after acquiring an additional 754 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Quanex Building Products by 199.9% during the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after purchasing an additional 1,415 shares in the last quarter. Comerica Bank grew its holdings in shares of Quanex Building Products by 3.6% during the 4th quarter. Comerica Bank now owns 47,375 shares of the construction company’s stock worth $729,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Danske Bank A S bought a new stake in shares of Quanex Building Products during the third quarter valued at approximately $26,000. 97.48% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.