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 released on Monday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on NX. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Quanex Building Products has a consensus rating of “Reduce” and a consensus price target of $28.00.

Quanex Building Products Trading Down 0.8%

Quanex Building Products stock opened at $20.29 on Monday. The firm has a 50-day moving average of $19.19 and a 200-day moving average of $16.82. Quanex Building Products has a one year low of $11.04 and a one year high of $22.98. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.31 and a quick ratio of 1.21. The company has a market cap of $931.83 million, a price-to-earnings ratio of -3.86, a P/E/G ratio of 0.75 and a beta of 0.93.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $405.75 million. On average, equities analysts expect that Quanex Building Products will post 1.96 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

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

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds have recently bought and sold shares of NX. Danske Bank A S acquired a new stake in Quanex Building Products during the third quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its position in Quanex Building Products by 199.9% during the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after acquiring an additional 1,415 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Quanex Building Products during the fourth quarter worth approximately $35,000. Meeder Asset Management Inc. acquired a new stake in Quanex Building Products during the fourth quarter worth approximately $42,000. Finally, Quarry LP lifted its position in Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after acquiring an additional 2,136 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

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.