Quanex Building Products (NYSE:NX) Stock Price Down 7.2% – Here’s What Happened

Quanex Building Products Corporation (NYSE:NX)’s share price fell 7.2% during trading on Friday . The company traded as low as $16.85 and last traded at $17.44. 211,962 shares traded hands during trading, a decline of 62% from the average session volume of 559,209 shares. The stock had previously closed at $18.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NX shares. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday. Wall Street Zen upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Finally, Benchmark decreased 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. 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. According to data from MarketBeat.com, Quanex Building Products currently has an average rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Trading Down 8.0%

The stock’s 50-day simple moving average is $19.16 and its two-hundred day simple moving average is $16.61. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.04 and a quick ratio of 1.14. The firm has a market capitalization of $794.76 million, a P/E ratio of -3.15, a price-to-earnings-growth ratio of 0.67 and a beta of 0.91.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%. The company had revenue of $409.09 million for the quarter, compared to analysts’ expectations of $405.75 million. Equities research analysts expect that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Quanex Building Products’s dividend payout ratio (DPR) is -5.83%.

Insider Buying and Selling

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the company’s 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 directly owned 4,421,879 shares in the company, valued at $70,484,751.26. This represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Several institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new position in shares of Quanex Building Products during the third quarter worth $26,000. CWM LLC boosted 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 purchasing an additional 750 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Quanex Building Products by 199.9% during the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,415 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Quanex Building Products during the fourth quarter valued at about $35,000. Finally, Allworth Financial LP increased its holdings in shares of Quanex Building Products by 17,191.7% in the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock worth $39,000 after purchasing an additional 2,063 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

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.