Quanex Building Products Corp. (NX) Stock Rating Reaffirmed by Wedbush
Quanex Building Products Corp. (NYSE:NX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a research report issued to clients and investors on Monday. They presently have a $23.00 price target on the stock. Wedbush’s price target points to a potential upside of 33.10% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. Imperial Capital reiterated an “outperform” rating and issued a $25.00 price target on shares of Quanex Building Products Corp. in a research note on Wednesday, August 31st. TheStreet lowered Quanex Building Products Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.63.
Shares of Quanex Building Products Corp. (NYSE:NX) traded up 0.98% during midday trading on Monday, reaching $17.45. The company’s stock had a trading volume of 37,668 shares. The company’s 50-day moving average price is $18.21 and its 200-day moving average price is $18.86. Quanex Building Products Corp. has a 12 month low of $15.33 and a 12 month high of $21.66. The company has a market cap of $592.45 million, a PE ratio of 232.67 and a beta of 1.15.
Quanex Building Products Corp. (NYSE:NX) last posted its quarterly earnings data on Tuesday, September 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm earned $248.10 million during the quarter. Quanex Building Products Corp. had a return on equity of 6.25% and a net margin of 0.30%. The company’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, equities analysts anticipate that Quanex Building Products Corp. will post $0.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, September 14th. Quanex Building Products Corp.’s dividend payout ratio (DPR) is presently 228.60%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mason Street Advisors LLC bought a new position in Quanex Building Products Corp. during the second quarter valued at approximately $124,000. BlackRock Inc. increased its position in shares of Quanex Building Products Corp. by 166.1% in the second quarter. BlackRock Inc. now owns 10,324 shares of the company’s stock worth $192,000 after buying an additional 6,444 shares during the last quarter. Laurion Capital Management LP acquired a new position in shares of Quanex Building Products Corp. during the second quarter worth approximately $193,000. BNP Paribas Arbitrage SA increased its position in shares of Quanex Building Products Corp. by 125.4% in the second quarter. BNP Paribas Arbitrage SA now owns 10,694 shares of the company’s stock worth $199,000 after buying an additional 5,950 shares during the last quarter. Finally, BlackRock Advisors LLC increased its position in shares of Quanex Building Products Corp. by 5.3% in the second quarter. BlackRock Advisors LLC now owns 16,387 shares of the company’s stock worth $305,000 after buying an additional 831 shares during the last quarter. 94.55% of the stock is owned by institutional investors and hedge funds.
Quanex Building Products Corp. Company Profile
Quanex Building Products Corporation manufactures components primarily for the window and door (fenestration) industry, including insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products for original equipment manufacturers (OEMs). The Company’s segments include Engineered Products, International Extrusion, and Corporate & Other.
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