Quanex Building Products Co. (NX) To Go Ex-Dividend on September 13th
Quanex Building Products Co. (NYSE:NX) declared a dividend on Thursday, September 6th, Fidelity reports. Shareholders of record on Friday, September 14th will be given a dividend of 0.08 per share by the construction company on Friday, September 28th. The ex-dividend date of this dividend is Thursday, September 13th.
Quanex Building Products has increased its dividend payment by an average of 10.1% per year over the last three years. Quanex Building Products has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Quanex Building Products to earn $0.97 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 16.5%.
Shares of NYSE:NX traded up $3.10 during midday trading on Friday, reaching $19.45. The company’s stock had a trading volume of 1,232,060 shares, compared to its average volume of 147,124. The company has a market cap of $573.25 million, a P/E ratio of 25.26 and a beta of 0.68. The company has a quick ratio of 0.98, a current ratio of 1.93 and a debt-to-equity ratio of 0.50. Quanex Building Products has a 1 year low of $16.00 and a 1 year high of $24.60.
In related news, CFO Brent L. Korb sold 11,502 shares of the business’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $17.26, for a total value of $198,524.52. Following the transaction, the chief financial officer now owns 114,307 shares in the company, valued at $1,972,938.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brent L. Korb sold 100,000 shares of the business’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $17.35, for a total value of $1,735,000.00. Following the completion of the transaction, the vice president now owns 114,307 shares in the company, valued at approximately $1,983,226.45. The disclosure for this sale can be found here. Insiders own 5.32% of the company’s stock.
A number of brokerages have recently commented on NX. Zacks Investment Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Saturday. ValuEngine raised Quanex Building Products from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Sidoti downgraded Quanex Building Products from a “buy” rating to a “neutral” rating in a research report on Friday, June 8th. Five investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $22.50.
Quanex Building Products Company Profile
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers; extruded vinyl profiles; window and door screens; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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