Insider Selling: Quanex Building Products (NYSE:NX) SVP Sells $117,260.00 in Stock

Quanex Building Products Corporation (NYSE:NX) SVP Paul Cornett sold 5,500 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $21.32, for a total value of $117,260.00. Following the transaction, the senior vice president owned 70,074 shares of the company’s stock, valued at $1,493,977.68. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Quanex Building Products Trading Down 3.0%

Shares of NYSE:NX traded down $0.66 during mid-day trading on Tuesday, reaching $21.09. The stock had a trading volume of 472,836 shares, compared to its average volume of 454,660. The firm has a market cap of $966.55 million, a PE ratio of 21.30, a price-to-earnings-growth ratio of 0.78 and a beta of 0.92. The firm has a 50 day simple moving average of $19.84 and a two-hundred day simple moving average of $19.11. The company has a current ratio of 2.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. Quanex Building Products Corporation has a twelve month low of $11.04 and a twelve month high of $23.33.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. The firm had revenue of $501.85 million during the quarter, compared to analysts’ expectations of $497.51 million. Quanex Building Products had a net margin of 2.43% and a return on equity of 11.61%. During the same quarter in the previous year, the company earned ($6.04) earnings per share. On average, research analysts predict that Quanex Building Products Corporation will post 1.82 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. Quanex Building Products’s payout ratio is 32.32%.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in NX. Integrated Wealth Concepts LLC acquired a new position in Quanex Building Products during the second quarter worth $26,000. Public Employees Retirement System of Ohio acquired a new stake in Quanex Building Products in the second quarter valued at $36,000. GAMMA Investing LLC lifted its stake in Quanex Building Products by 63.6% in the third quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock valued at $99,000 after acquiring an additional 2,032 shares during the last quarter. Allworth Financial LP bought a new position in shares of Quanex Building Products in the 2nd quarter valued at about $51,000. Finally, Byrne Asset Management LLC grew its position in shares of Quanex Building Products by 58.5% in the 2nd quarter. Byrne Asset Management LLC now owns 8,290 shares of the construction company’s stock valued at $154,000 after acquiring an additional 3,060 shares during the period. Institutional investors own 97.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Weiss Ratings upgraded Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wall Street Zen upgraded Quanex Building Products from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Benchmark reiterated a “buy” rating on shares of Quanex Building Products in a research report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $28.00.

Quanex Building Products Company Profile

Quanex Building Products Corporation (NYSE: NX) is a manufacturer of components and systems used in the production of energy-efficient windows, doors, cabinets and other building products. The company primarily serves original equipment manufacturers and fabricators rather than selling finished construction products directly to consumers.

Its product portfolio includes insulating glass components, spacer systems, window and door profiles, screens, fenestration hardware, weather-sealing products, cabinet doors and drawer fronts.