Quanex Building Products Corporation (NYSE:NX) Declares $0.08 Quarterly Dividend

Quanex Building Products Corporation (NYSE:NX) declared a quarterly dividend on Friday, December 5th. Investors of record on Monday, December 15th will be paid a dividend of 0.08 per share by the construction company on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, December 15th.

Quanex Building Products has a dividend payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Quanex Building Products to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 12.1%.

Quanex Building Products Price Performance

Quanex Building Products stock traded up $1.36 during midday trading on Friday, reaching $16.44. 3,309,671 shares of the stock were exchanged, compared to its average volume of 759,991. Quanex Building Products has a 52 week low of $11.04 and a 52 week high of $28.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.18 and a current ratio of 2.20. The firm has a market cap of $754.03 million, a PE ratio of -2.99, a PEG ratio of 0.50 and a beta of 0.97. The company’s fifty day moving average is $13.72 and its 200-day moving average is $16.87.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The firm had revenue of $489.85 million during the quarter, compared to analyst estimates of $472.62 million. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 11.87%. During the same period in the previous year, the business earned $0.61 EPS. On average, sell-side analysts forecast that Quanex Building Products will post 2.18 EPS for the current year.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC lifted its position in Quanex Building Products by 5.6% in the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock valued at $218,000 after purchasing an additional 614 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Quanex Building Products by 3.3% in the second quarter. Janney Montgomery Scott LLC now owns 22,136 shares of the construction company’s stock worth $418,000 after purchasing an additional 698 shares during the last quarter. CWM LLC increased its stake in shares of Quanex Building Products by 104.5% in the second quarter. CWM LLC now owns 1,468 shares of the construction company’s stock worth $28,000 after buying an additional 750 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Quanex Building Products by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock worth $345,000 after buying an additional 754 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Quanex Building Products by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,061 shares of the construction company’s stock valued at $228,000 after buying an additional 764 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.