Quanex Building Products (NYSE:NX) Downgraded by StockNews.com to Buy

StockNews.com cut shares of Quanex Building Products (NYSE:NX) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

Separately, Benchmark reiterated a buy rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Tuesday, April 23rd.

Quanex Building Products Stock Performance

Shares of NYSE:NX opened at $32.53 on Friday. Quanex Building Products has a twelve month low of $24.97 and a twelve month high of $39.31. The firm has a market cap of $1.08 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.29. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.37 and a current ratio of 2.22. The business has a fifty day moving average of $30.02 and a 200-day moving average of $32.72.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Friday, June 7th. The construction company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.13. The firm had revenue of $266.20 million during the quarter, compared to analyst estimates of $268.80 million. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. During the same period last year, the company earned $0.66 earnings per share. On average, equities research analysts predict that Quanex Building Products will post 2.33 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.98%. Quanex Building Products’s payout ratio is 13.11%.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after buying an additional 30,198 shares during the period. Pacer Advisors Inc. grew its position in shares of Quanex Building Products by 46.6% during the 4th quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock worth $24,208,000 after buying an additional 251,892 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 buying an additional 9,172 shares during the period. American Century Companies Inc. grew its position in shares of Quanex Building Products by 19.1% during the 3rd quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock worth $13,041,000 after buying an additional 74,297 shares during the period. Finally, First Eagle Investment Management LLC grew its position in shares of Quanex Building Products by 2.7% during the 1st quarter. First Eagle Investment Management LLC now owns 256,135 shares of the construction company’s stock worth $9,843,000 after buying an additional 6,680 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.