Quanex Building Products Corporation (NYSE:NX) Short Interest Down 30.3% in December

Quanex Building Products Corporation (NYSE:NX) was the target of a significant decline in short interest in the month of December. As of December 31st, there was short interest totaling 2,100,051 shares, a decline of 30.3% from the December 15th total of 3,014,034 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average daily volume of 1,003,906 shares, the short-interest ratio is currently 2.1 days. Based on an average daily volume of 1,003,906 shares, the short-interest ratio is currently 2.1 days. Currently, 4.7% of the shares of the company are short sold.

Insider Buying and Selling at Quanex Building Products

In related 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 transaction of $1,904,590.90. Following the completion of the sale, the insider owned 4,421,879 shares in the company, valued at $70,484,751.26. This represents a 2.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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 company. Orion Porfolio Solutions LLC lifted its holdings in Quanex Building Products by 5.6% during the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock worth $218,000 after acquiring an additional 614 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Quanex Building Products by 3.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,136 shares of the construction company’s stock valued at $418,000 after purchasing an additional 698 shares during the period. CWM LLC increased its stake in Quanex Building Products by 104.5% during the 2nd quarter. CWM LLC now owns 1,468 shares of the construction company’s stock worth $28,000 after purchasing an additional 750 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Quanex Building Products by 4.3% during the 2nd 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 lifted its stake in Quanex Building Products by 6.8% in the second 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 in the last quarter. Institutional investors own 97.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NX. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Benchmark dropped their price target on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a report on Monday, December 15th. Wall Street Zen raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.00.

Quanex Building Products Trading Up 0.7%

NX traded up $0.12 during trading on Friday, reaching $18.69. 729,477 shares of the company’s stock were exchanged, compared to its average volume of 628,921. The company’s fifty day moving average price is $14.69 and its 200-day moving average price is $16.47. The firm has a market capitalization of $853.75 million, a PE ratio of -3.41, a P/E/G ratio of 0.64 and a beta of 0.93. Quanex Building Products has a fifty-two week low of $11.04 and a fifty-two week high of $24.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 2.04.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 earnings per share for the quarter, beating 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 the consensus estimate of $472.62 million. During the same quarter in the prior year, the business posted $0.61 EPS. As a group, equities analysts forecast that Quanex Building Products will post 2.18 EPS for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. Quanex Building Products’s dividend payout ratio is -5.83%.

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.