Quanex Building Products (NYSE:NX) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a buy rating in a report issued on Saturday.

Several other equities analysts also recently commented on NX. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Benchmark reduced their price objective on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Wednesday, October 8th. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Stock Performance

NX stock opened at $17.53 on Friday. Quanex Building Products has a 1-year low of $11.04 and a 1-year high of $24.79. The company has a current ratio of 2.04, a quick ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm has a market cap of $800.60 million, a PE ratio of -3.19, a P/E/G ratio of 0.60 and a beta of 0.93. The business’s 50-day moving average price is $14.21 and its two-hundred day moving average price is $16.50.

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, topping analysts’ consensus estimates of $0.50 by $0.33. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.The company had revenue of $489.85 million for the quarter, compared to analyst estimates of $472.62 million. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, research analysts forecast that Quanex Building Products will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.08 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.32 annualized dividend and a yield of 1.8%. Quanex Building Products’s dividend payout ratio is -5.83%.

Insider Buying and Selling at Quanex Building Products

In other news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the 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 owned 4,421,879 shares of the company’s stock, valued at approximately $70,484,751.26. This represents a 2.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Several large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in Quanex Building Products during the fourth quarter valued at approximately $178,000. Danske Bank A S bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $26,000. PharVision Advisers LLC bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $321,000. Verity Asset Management Inc. purchased a new position in shares of Quanex Building Products during the 3rd quarter worth about $190,000. Finally, Quarry LP grew its holdings in Quanex Building Products by 132.0% during the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after purchasing an additional 2,136 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

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.