Quanex Building Products (NYSE:NX) Shares Pass Above 200-Day Moving Average – Time to Sell?

Quanex Building Products Corporation (NYSE:NX) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.52 and traded as high as $17.57. Quanex Building Products shares last traded at $17.53, with a volume of 627,628 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a research report on Wednesday, October 8th. Benchmark dropped their target price on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, December 15th. Finally, Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Stock Performance

The firm’s fifty day moving average price is $14.21 and its 200-day moving average price is $16.50. The company has a market cap of $800.60 million, a P/E ratio of -3.19, a P/E/G ratio of 0.60 and a beta of 0.93. The company has a current ratio of 2.04, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, December 11th. The construction company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $489.85 million for the quarter, compared to the consensus estimate of $472.62 million. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.During the same period last year, the business earned $0.61 earnings per share. As a group, research analysts forecast that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Monday, December 15th. Quanex Building Products’s payout ratio is -5.83%.

Insider Activity at Quanex Building Products

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the company’s stock in a transaction 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 sale, the insider directly owned 4,421,879 shares in the company, valued at $70,484,751.26. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently added to or reduced their stakes in NX. Royal Bank of Canada boosted its holdings in Quanex Building Products by 22.6% during the first quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock worth $476,000 after buying an additional 4,720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Quanex Building Products by 9.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company’s stock valued at $521,000 after purchasing an additional 2,347 shares during the period. Goldman Sachs Group Inc. grew its holdings in Quanex Building Products by 25.4% during the first quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company’s stock valued at $4,586,000 after purchasing an additional 49,895 shares during the period. Empowered Funds LLC raised its holdings in Quanex Building Products by 3.4% in the first quarter. Empowered Funds LLC now owns 183,103 shares of the construction company’s stock worth $3,404,000 after purchasing an additional 5,959 shares during the period. Finally, Jane Street Group LLC raised its holdings in Quanex Building Products by 887.4% in the first quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock worth $1,579,000 after purchasing an additional 76,353 shares during the period. Institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.