Quanex Building Products (NYSE:NX) Stock Price Down 4% – What’s Next?

Quanex Building Products Co. (NYSE:NX)’s share price dropped 4% during trading on Monday . The company traded as low as $26.81 and last traded at $27.01. Approximately 110,690 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 358,516 shares. The stock had previously closed at $28.15.

Analysts Set New Price Targets

Several research firms recently commented on NX. StockNews.com downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday. Benchmark reaffirmed a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Stock Down 4.8 %

The business has a 50-day simple moving average of $29.59 and a two-hundred day simple moving average of $28.92. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 0.89 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same quarter in the prior year, the firm earned $0.95 earnings per share. As a group, equities analysts predict that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s payout ratio is 28.57%.

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors have recently added to or reduced their stakes in NX. Victory Capital Management Inc. grew its stake in shares of Quanex Building Products by 38.7% during the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after purchasing an additional 32,158 shares during the period. Susquehanna International Group Ltd. acquired a new stake in shares of Quanex Building Products during the 2nd quarter valued at approximately $611,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Quanex Building Products by 292.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock worth $2,289,000 after acquiring an additional 61,444 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Quanex Building Products by 5.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 365,517 shares of the construction company’s stock worth $10,143,000 after acquiring an additional 19,361 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Quanex Building Products by 26.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 669,270 shares of the construction company’s stock valued at $18,572,000 after purchasing an additional 139,208 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.