Quanex Building Products (NYSE:NX) Upgraded at StockNews.com

StockNews.com upgraded shares of Quanex Building Products (NYSE:NX) from a buy rating to a strong-buy rating in a report released on Friday.

Separately, Benchmark reaffirmed a buy rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Tuesday, April 23rd.

Quanex Building Products Trading Down 1.4 %

NYSE:NX opened at $28.72 on Friday. The stock has a fifty day moving average price of $33.45 and a two-hundred day moving average price of $33.25. The stock has a market capitalization of $950.92 million, a price-to-earnings ratio of 11.77, a PEG ratio of 0.88 and a beta of 1.36. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 2.22. Quanex Building Products has a 1 year low of $24.97 and a 1 year high of $39.31.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.13. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $268.80 million. During the same quarter last year, the business posted $0.66 earnings per share. As a group, sell-side analysts anticipate that Quanex Building Products will post 2.33 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.11%. Quanex Building Products’s dividend payout ratio (DPR) is 13.11%.

Insider Transactions at Quanex Building Products

In other news, SVP Paul Cornett sold 3,064 shares of the firm’s stock in a transaction dated 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 directly owns 43,902 shares in the company, valued at approximately $1,655,983.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after purchasing an additional 30,198 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Quanex Building Products by 46.6% during the 4th quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock worth $24,208,000 after purchasing an additional 251,892 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Quanex Building Products by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,581 shares of the construction company’s stock worth $15,578,000 after purchasing an additional 9,172 shares during the last quarter. American Century Companies Inc. increased its holdings in Quanex Building Products by 19.1% during the 3rd quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock worth $13,041,000 after purchasing an additional 74,297 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Quanex Building Products by 3.1% during the 3rd quarter. Invesco Ltd. now owns 327,436 shares of the construction company’s stock worth $9,224,000 after purchasing an additional 9,875 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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.