Quanex Building Products’ (NX) Buy Rating Reiterated at Benchmark

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

Separately, StockNews.com lowered Quanex Building Products from a buy rating to a hold rating in a report on Tuesday.

Quanex Building Products Stock Performance

Shares of NX stock opened at $27.53 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. Quanex Building Products has a fifty-two week low of $24.85 and a fifty-two week high of $39.31. The stock’s 50-day moving average is $28.67 and its two-hundred day moving average is $31.81. The firm has a market cap of $911.44 million, a P/E ratio of 11.28, a PEG ratio of 0.87 and a beta of 1.27.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter in the prior year, the firm posted $0.97 EPS. Analysts predict that Quanex Building Products will post 2.15 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 Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, September 16th. Quanex Building Products’s dividend payout ratio is 13.11%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its position in Quanex Building Products by 224.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock worth $1,177,000 after buying an additional 21,189 shares during the period. SageView Advisory Group LLC bought a new position in Quanex Building Products in the 1st quarter worth approximately $983,000. Hillsdale Investment Management Inc. bought a new position in Quanex Building Products in the 1st quarter worth approximately $1,023,000. Oliver Luxxe Assets LLC grew its holdings in shares of Quanex Building Products by 55.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 43,240 shares of the construction company’s stock worth $1,322,000 after purchasing an additional 15,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 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 in the last quarter. 97.48% of the stock is owned by 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.