Quanex Building Products (NYSE:NX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Quanex Building Products (NYSE:NX) issued its quarterly earnings results on Thursday. The construction company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04, FiscalAI reports. The firm had revenue of $409.09 million during the quarter, compared to analyst estimates of $405.75 million. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.

Quanex Building Products Stock Down 4.1%

NYSE:NX traded down $0.81 during trading hours on Thursday, reaching $18.86. The company’s stock had a trading volume of 776,489 shares, compared to its average volume of 561,699. The stock has a 50 day moving average price of $19.09 and a two-hundred day moving average price of $16.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 2.04. The company has a market capitalization of $866.43 million, a P/E ratio of -3.44, a price-to-earnings-growth ratio of 0.66 and a beta of 0.91. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $22.98.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Quanex Building Products’s dividend payout ratio (DPR) is presently -5.83%.

Wall Street Analysts Forecast Growth

NX has been the topic of a number of research analyst reports. Benchmark cut their price target on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock 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 report on Saturday, January 10th. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In other news, insider Teleios Capital Partners Gmbh sold 119,485 shares of Quanex Building Products stock in a transaction 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 transaction, the insider directly owned 4,421,879 shares in the company, valued at approximately $70,484,751.26. This trade represents a 2.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IES Holdings Inc. purchased a new stake in shares of Quanex Building Products during the fourth quarter valued at about $3,846,000. Jump Financial LLC bought a new position in shares of Quanex Building Products during the 3rd quarter worth approximately $2,617,000. Ameriprise Financial Inc. lifted its position in Quanex Building Products by 7.9% during the second quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after acquiring an additional 166,518 shares during the last quarter. Trexquant Investment LP boosted its stake in Quanex Building Products by 75.0% in the fourth quarter. Trexquant Investment LP now owns 381,570 shares of the construction company’s stock valued at $5,869,000 after acquiring an additional 163,570 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Quanex Building Products by 675.6% in the third quarter. Two Sigma Investments LP now owns 158,604 shares of the construction company’s stock worth $2,255,000 after purchasing an additional 138,156 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.