Quanex Building Products (NYSE:NX) Stock Price Up 10.4% – Here’s What Happened

Quanex Building Products Corporation (NYSE:NX) traded up 10.4% on Thursday . The company traded as high as $18.27 and last traded at $18.2870. Approximately 16,601 shares changed hands during trading, a decline of 97% from the average session volume of 497,166 shares. The stock had previously closed at $16.56.

Analyst Ratings Changes

Several analysts recently weighed in on NX shares. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. Wall Street Zen lowered Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Zacks Research cut Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Quanex Building Products currently has an average rating of “Reduce” and a consensus price target of $28.00.

Quanex Building Products Stock Performance

The stock’s 50-day simple moving average is $18.31 and its 200-day simple moving average is $18.23. The stock has a market cap of $825.78 million, a price-to-earnings ratio of -3.19, a price-to-earnings-growth ratio of 0.77 and a beta of 0.91. The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. The company had revenue of $462.37 million for the quarter, compared to analysts’ expectations of $459.27 million. Analysts forecast that Quanex Building Products Corporation will post 1.66 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, June 15th. Quanex Building Products’s dividend payout ratio (DPR) is -5.68%.

Institutional Trading of Quanex Building Products

Institutional investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Quanex Building Products during the 1st quarter worth $17,970,000. Arrowstreet Capital Limited Partnership raised its stake in Quanex Building Products by 961.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 592,785 shares of the construction company’s stock valued at $10,652,000 after purchasing an additional 536,949 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Quanex Building Products by 36.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock worth $31,296,000 after purchasing an additional 462,992 shares during the period. Medina Value Partners LLC bought a new stake in Quanex Building Products during the third quarter worth about $4,602,000. Finally, Western Standard LLC acquired a new stake in Quanex Building Products during the fourth quarter worth about $4,219,000. 97.48% of the stock is currently owned by institutional investors.

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.