StockNews.com Upgrades Quanex Building Products (NYSE:NX) to “Strong-Buy”

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

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

Quanex Building Products Stock Up 0.5 %

Shares of NX opened at $28.03 on Friday. The stock’s 50-day moving average price is $30.43 and its 200-day moving average price is $32.69. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $928.16 million, a price-to-earnings ratio of 11.49, a PEG ratio of 0.86 and a beta of 1.29. Quanex Building Products has a 52 week low of $24.97 and a 52 week high of $39.31.

Quanex Building Products (NYSE:NX) last posted its earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.13. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $268.80 million. Quanex Building Products had a net margin of 7.33% and a return on equity of 16.55%. During the same period in the previous year, the firm earned $0.66 EPS. On average, sell-side analysts predict that Quanex Building Products will post 2.33 EPS for the current year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.14%. Quanex Building Products’s dividend payout ratio (DPR) is 13.11%.

Institutional Trading of Quanex Building Products

Several large investors have recently made changes to their positions in NX. Vanguard Group Inc. boosted its stake in Quanex Building Products by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after buying an additional 30,198 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Quanex Building Products by 46.6% during the fourth quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock worth $24,208,000 after buying an additional 251,892 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Quanex Building Products by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,581 shares of the construction company’s stock valued at $15,578,000 after acquiring an additional 9,172 shares during the last quarter. American Century Companies Inc. increased its holdings in Quanex Building Products by 19.1% in the 3rd quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock valued at $13,041,000 after purchasing an additional 74,297 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of Quanex Building Products by 2.7% in the first quarter. First Eagle Investment Management LLC now owns 256,135 shares of the construction company’s stock valued at $9,843,000 after purchasing an additional 6,680 shares in the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Company Profile

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.