Wedbush upgraded shares of Quanex Building Products Corporation (NYSE:NX) from a neutral rating to an outperform rating in a research note released on Friday morning. The firm currently has $24.00 price target on the construction company’s stock, down from their prior price target of $25.00. Wedbush also issued estimates for Quanex Building Products Corporation’s Q3 2018 earnings at $0.26 EPS.

Several other equities analysts have also weighed in on NX. BidaskClub lowered Quanex Building Products Corporation from a hold rating to a sell rating in a research note on Tuesday, August 1st. Sidoti started coverage on Quanex Building Products Corporation in a research note on Monday, August 7th. They issued a buy rating on the stock. Finally, Zacks Investment Research raised Quanex Building Products Corporation from a sell rating to a hold rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $24.00.

Shares of Quanex Building Products Corporation (NYSE:NX) opened at 19.75 on Friday. The stock’s market capitalization is $674.60 million. Quanex Building Products Corporation has a 52 week low of $15.40 and a 52 week high of $22.65. The firm’s 50-day moving average is $20.28 and its 200-day moving average is $20.26.

Quanex Building Products Corporation (NYSE:NX) last released its quarterly earnings data on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.01. The firm had revenue of $229.40 million during the quarter, compared to analyst estimates of $235.45 million. Quanex Building Products Corporation had a net margin of 1.52% and a return on equity of 7.87%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts anticipate that Quanex Building Products Corporation will post $0.80 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.81%. Quanex Building Products Corporation’s payout ratio is currently 42.11%.

In related news, SVP Kevin P. Delaney sold 9,971 shares of the firm’s stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $21.53, for a total transaction of $214,675.63. Following the sale, the senior vice president now directly owns 113,442 shares in the company, valued at approximately $2,442,406.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Kevin P. Delaney sold 59,700 shares of the firm’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $21.35, for a total value of $1,274,595.00. Following the sale, the senior vice president now owns 133,471 shares in the company, valued at $2,849,605.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,809 shares of company stock worth $2,230,713. Company insiders own 5.32% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Louisiana State Employees Retirement System raised its holdings in shares of Quanex Building Products Corporation by 1.4% during the 1st quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the construction company’s stock valued at $284,000 after buying an additional 200 shares during the period. Texas Permanent School Fund raised its holdings in shares of Quanex Building Products Corporation by 1.0% during the 2nd quarter. Texas Permanent School Fund now owns 25,148 shares of the construction company’s stock valued at $532,000 after buying an additional 238 shares during the period. Falcon Point Capital LLC raised its holdings in shares of Quanex Building Products Corporation by 0.5% during the 2nd quarter. Falcon Point Capital LLC now owns 58,289 shares of the construction company’s stock valued at $1,233,000 after buying an additional 294 shares during the period. Arizona State Retirement System raised its holdings in shares of Quanex Building Products Corporation by 1.7% during the 1st quarter. Arizona State Retirement System now owns 17,936 shares of the construction company’s stock valued at $363,000 after buying an additional 300 shares during the period. Finally, Prudential Financial Inc. raised its holdings in shares of Quanex Building Products Corporation by 0.6% during the 1st quarter. Prudential Financial Inc. now owns 58,566 shares of the construction company’s stock valued at $1,186,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 99.75% of the company’s stock.

About Quanex Building Products Corporation

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