Quanex Building Products (NYSE:NX) Issues Quarterly Earnings Results

Quanex Building Products (NYSE:NX) released its quarterly earnings results on Thursday. The construction company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.03, FiscalAI reports. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. The firm had revenue of $462.37 million during the quarter, compared to analyst estimates of $459.28 million.

Quanex Building Products Stock Down 1.7%

NYSE NX traded down $0.31 during mid-day trading on Thursday, hitting $17.82. The company’s stock had a trading volume of 465,149 shares, compared to its average volume of 495,853. The company’s 50 day simple moving average is $18.84 and its 200 day simple moving average is $17.76. Quanex Building Products has a twelve month low of $11.04 and a twelve month high of $22.98. The company has a current ratio of 2.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $818.38 million, a price-to-earnings ratio of -3.39, a PEG ratio of 0.81 and a beta of 0.91.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 annualized dividend and a yield of 1.8%. Quanex Building Products’s dividend payout ratio (DPR) is presently -6.08%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wall Street Zen lowered shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research downgraded shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $28.00.

Institutional Trading of Quanex Building Products

Several hedge funds have recently bought and sold shares of NX. Royal Bank of Canada grew its position in Quanex Building Products by 22.6% in the 1st quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock valued at $476,000 after purchasing an additional 4,720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Quanex Building Products by 9.1% in the 1st 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 position in Quanex Building Products by 25.4% in the 1st 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. Jane Street Group LLC grew its position in Quanex Building Products by 887.4% in the 1st quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock valued at $1,579,000 after purchasing an additional 76,353 shares during the period. Finally, Sei Investments Co. grew its position in Quanex Building Products by 8.0% in the 2nd quarter. Sei Investments Co. now owns 72,103 shares of the construction company’s stock valued at $1,363,000 after purchasing an additional 5,313 shares during the period. Institutional investors and hedge funds 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.