Benchmark Cuts Quanex Building Products (NYSE:NX) Price Target to $28.00

Quanex Building Products (NYSE:NX) had its target price reduced by Benchmark from $30.00 to $28.00 in a research report report published on Monday morning,Benzinga reports. Benchmark currently has a buy rating on the construction company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.00.

Quanex Building Products Stock Performance

Quanex Building Products stock opened at $15.80 on Monday. Quanex Building Products has a twelve month low of $11.04 and a twelve month high of $26.64. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $721.45 million, a P/E ratio of -2.88, a PEG ratio of 0.55 and a beta of 0.97. The stock’s 50 day moving average is $13.81 and its 200 day moving average is $16.84.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, December 11th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.The business had revenue of $489.85 million during the quarter, compared to analysts’ expectations of $472.62 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, equities research analysts predict that Quanex Building Products will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, December 15th. Quanex Building Products’s dividend payout ratio (DPR) is presently -5.83%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NX. Danske Bank A S purchased a new stake in Quanex Building Products in the third quarter worth approximately $26,000. CWM LLC lifted its holdings in shares of Quanex Building Products by 104.5% during the 2nd quarter. CWM LLC now owns 1,468 shares of the construction company’s stock valued at $28,000 after buying an additional 750 shares during the period. Allworth Financial LP boosted its stake in shares of Quanex Building Products by 17,191.7% in the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock worth $39,000 after buying an additional 2,063 shares during the last quarter. Quarry LP boosted its stake in shares of Quanex Building Products by 132.0% in the 3rd 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 last quarter. Finally, Byrne Asset Management LLC bought a new stake in shares of Quanex Building Products in the third quarter worth $72,000. Institutional investors own 97.48% of the company’s stock.

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.