Quanex Building Products (NYSE:NX) Reaches New 12-Month Low – Here’s What Happened

Shares of Quanex Building Products Co. (NYSE:NX) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.75 and last traded at $22.92, with a volume of 19876 shares traded. The stock had previously closed at $23.28.

Analyst Ratings Changes

NX has been the topic of a number of research analyst reports. StockNews.com lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Price Performance

The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30. The stock’s fifty day moving average price is $28.15 and its two-hundred day moving average price is $28.36. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period last year, the company earned $0.95 EPS. Equities research analysts expect that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity at Quanex Building Products

In other news, CEO George Laverne Wilson purchased 4,328 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the acquisition, the chief executive officer now directly owns 287,644 shares in the company, valued at approximately $6,624,441.32. The trade was a 1.53 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently bought and sold shares of NX. Artemis Investment Management LLP acquired a new stake in Quanex Building Products during the third quarter worth approximately $15,343,000. State Street Corp lifted its stake in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after purchasing an additional 351,778 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Quanex Building Products by 37.9% during the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after purchasing an additional 286,128 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Quanex Building Products by 318.9% in the third quarter. Janus Henderson Group PLC now owns 232,428 shares of the construction company’s stock valued at $6,447,000 after purchasing an additional 176,949 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Quanex Building Products in the third quarter valued at $4,766,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.