Short Interest in Quanex Building Products Co. (NYSE:NX) Expands By 21.3%

Quanex Building Products Co. (NYSE:NX) was the target of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,900,000 shares, an increase of 21.3% from the February 28th total of 2,390,000 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average trading volume of 540,500 shares, the short-interest ratio is presently 5.4 days.

Quanex Building Products Stock Performance

Shares of NX stock traded up $0.53 during midday trading on Wednesday, hitting $18.84. The company had a trading volume of 109,509 shares, compared to its average volume of 462,314. The stock has a market cap of $889.42 million, a price-to-earnings ratio of 16.82, a PEG ratio of 0.68 and a beta of 1.33. 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 company’s 50 day simple moving average is $20.62 and its 200 day simple moving average is $25.19. Quanex Building Products has a 52-week low of $17.96 and a 52-week high of $38.98.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.70%. Quanex Building Products’s dividend payout ratio (DPR) is 52.46%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Quanex Building Products by 30.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 318,044 shares of the construction company’s stock valued at $8,826,000 after buying an additional 74,396 shares during the period. Principal Financial Group Inc. lifted its holdings in Quanex Building Products by 28.8% in the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock valued at $6,175,000 after acquiring an additional 49,716 shares during the period. Geode Capital Management LLC boosted its position in shares of Quanex Building Products by 37.9% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Quanex Building Products by 26.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 669,270 shares of the construction company’s stock worth $18,572,000 after purchasing an additional 139,208 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new position in shares of Quanex Building Products in the 4th quarter valued at about $25,380,000. Institutional investors and hedge funds 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.