Quanex Building Products (NYSE:NX) Reaches New 1-Year Low – Here’s Why

Quanex Building Products Co. (NYSE:NX) hit a new 52-week low on Friday . The stock traded as low as $21.13 and last traded at $21.17, with a volume of 10841 shares. The stock had previously closed at $21.72.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.73, a current ratio of 2.24 and a quick ratio of 1.23. The firm has a 50-day simple moving average of $25.63 and a two-hundred day simple moving average of $27.80. The company has a market cap of $1.02 billion, a PE ratio of 19.32, a P/E/G ratio of 0.69 and a beta of 1.30.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a return on equity of 11.79% and a net margin of 2.59%. During the same quarter in the previous year, the business earned $0.95 EPS. Research analysts anticipate that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio is presently 28.57%.

Insider Transactions at Quanex Building Products

In other news, CEO George Laverne Wilson acquired 4,328 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $23.03 per share, with a total value of $99,673.84. Following the completion of the acquisition, the chief executive officer now directly owns 287,644 shares in the company, valued at $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.15% of the company’s stock.

Institutional Trading of Quanex Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after purchasing an additional 393 shares during the last quarter. Quarry LP boosted its position in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Quanex Building Products during the third quarter worth approximately $37,000. Public Employees Retirement System of Ohio boosted its position in shares of Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after buying an additional 605 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after buying an additional 2,090 shares during the period. 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.