Benchmark Reaffirms “Buy” Rating for Quanex Building Products (NYSE:NX)

Benchmark restated their buy rating on shares of Quanex Building Products (NYSE:NX) in a report released on Tuesday morning, Benzinga reports. Benchmark currently has a $38.00 target price on the construction company’s stock.

Quanex Building Products Stock Up 0.4 %

Quanex Building Products stock opened at $33.81 on Tuesday. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35. Quanex Building Products has a 52 week low of $18.71 and a 52 week high of $39.31. The business’s 50-day moving average price is $35.68 and its 200 day moving average price is $32.21. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.11.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The firm had revenue of $239.16 million for the quarter, compared to analyst estimates of $232.90 million. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. As a group, sell-side analysts anticipate that Quanex Building Products will post 2.4 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, March 14th. Quanex Building Products’s payout ratio is currently 12.17%.

Insider Buying and Selling at Quanex Building Products

In other news, SVP Paul Cornett sold 3,064 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.72, for a total value of $115,574.08. Following the transaction, the senior vice president now owns 43,902 shares in the company, valued at $1,655,983.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ritholtz Wealth Management raised its position in Quanex Building Products by 12.8% in the third quarter. Ritholtz Wealth Management now owns 18,573 shares of the construction company’s stock valued at $523,000 after purchasing an additional 2,114 shares during the period. SG Americas Securities LLC purchased a new stake in Quanex Building Products in the third quarter valued at $527,000. Summit Global Investments purchased a new stake in Quanex Building Products in the third quarter valued at $207,000. Miller Howard Investments Inc. NY purchased a new stake in Quanex Building Products in the third quarter valued at $232,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Quanex Building Products by 30.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,155 shares of the construction company’s stock valued at $286,000 after purchasing an additional 2,371 shares during the period. 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.