Quanex Building Products Co. (NYSE:NX – Get Free Report) announced a quarterly dividend on Friday, May 24th, Wall Street Journal reports. Investors of record on Friday, June 14th will be given a dividend of 0.08 per share by the construction company on Friday, June 28th. This represents a $0.32 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, June 14th.
Quanex Building Products has a dividend payout ratio of 12.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Quanex Building Products to earn $2.97 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.8%.
Quanex Building Products Trading Up 0.6 %
NYSE NX traded up $0.20 on Friday, hitting $32.50. The company’s stock had a trading volume of 142,098 shares, compared to its average volume of 160,848. The firm has a market cap of $1.08 billion, a PE ratio of 12.27, a PEG ratio of 0.97 and a beta of 1.38. The company’s 50-day moving average is $35.56 and its 200 day moving average is $33.08. 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 has a 1-year low of $20.56 and a 1-year high of $39.31.
Insider Buying and Selling
In related news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.72, for a total value of $115,574.08. Following the sale, the senior vice president now owns 43,902 shares in the company, valued at approximately $1,655,983.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.15% of the stock is owned by insiders.
Analysts Set New Price Targets
Separately, Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research note on Tuesday, April 23rd.
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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.
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