Quanex Building Products (NYSE:NX) Announces Earnings Results

Quanex Building Products (NYSE:NX) issued its earnings results on Thursday. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.04, FiscalAI reports. The business had revenue of $409.09 million during the quarter, compared to analysts’ expectations of $405.75 million. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%.

Quanex Building Products Trading Down 4.1%

Shares of NYSE:NX opened at $18.86 on Friday. The company has a market cap of $866.43 million, a PE ratio of -3.44, a price-to-earnings-growth ratio of 0.67 and a beta of 0.91. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $22.98. The company has a current ratio of 2.04, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $19.16 and a 200 day moving average of $16.61.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Quanex Building Products’s payout ratio is presently -5.83%.

Insider Activity

In other news, insider Teleios Capital Partners Gmbh sold 119,485 shares of Quanex Building Products stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90. Following the completion of the transaction, the insider owned 4,421,879 shares in the company, valued at approximately $70,484,751.26. The trade was a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NX. Danske Bank A S bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $26,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Quanex Building Products during the fourth quarter valued at approximately $35,000. Meeder Asset Management Inc. bought a new position in shares of Quanex Building Products during the fourth quarter valued at approximately $42,000. Quarry LP raised its holdings in shares of Quanex Building Products by 132.0% in the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after buying an additional 2,136 shares during the period. Finally, Group One Trading LLC lifted its stake in shares of Quanex Building Products by 747.0% during the 4th quarter. Group One Trading LLC now owns 4,989 shares of the construction company’s stock worth $77,000 after acquiring an additional 4,400 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NX has been the subject of several recent analyst reports. Benchmark decreased their price target on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, December 15th. Wall Street Zen raised Quanex Building Products from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $28.00.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.