Quanex Building Products (NYSE:NX) Issues Quarterly Earnings Results

Quanex Building Products (NYSE:NX) issued its quarterly earnings results on Thursday. The construction company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03, FiscalAI reports. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.12%. The business had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.28 million.

Quanex Building Products Trading Down 12.5%

Quanex Building Products stock opened at $15.59 on Friday. The stock has a market cap of $715.82 million, a P/E ratio of -2.77, a PEG ratio of 0.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.31 and a quick ratio of 1.21. Quanex Building Products has a 1 year low of $11.04 and a 1 year high of $22.98. The firm’s 50 day moving average price is $18.79 and its 200-day moving average price is $17.78.

Quanex Building Products Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.1%. Quanex Building Products’s dividend payout ratio (DPR) is presently -6.08%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NX. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. Zacks Research cut shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Wall Street Zen cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $28.00.

Institutional Investors Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently modified their holdings of the stock. Danske Bank A S bought a new stake in Quanex Building Products in the third quarter worth $26,000. Caitong International Asset Management Co. Ltd bought a new stake in Quanex Building Products in the fourth quarter worth $35,000. Meeder Asset Management Inc. bought a new stake in Quanex Building Products in the fourth quarter worth $42,000. Quarry LP increased its position in Quanex Building Products by 132.0% in the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after purchasing an additional 2,136 shares during the last quarter. Finally, Group One Trading LLC increased its position in Quanex Building Products by 747.0% in the fourth quarter. Group One Trading LLC now owns 4,989 shares of the construction company’s stock worth $77,000 after purchasing an additional 4,400 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

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.