Quanex Building Products (NYSE:NX) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Quanex Building Products (NYSE:NX) announced 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. The firm had revenue of $462.37 million for the quarter, compared to analysts’ expectations of $459.28 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%.

Quanex Building Products Trading Down 1.7%

NYSE NX opened at $17.82 on Friday. The firm’s 50-day moving average is $18.84 and its two-hundred day moving average is $17.80. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $22.98. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.31 and a quick ratio of 1.21. The stock has a market capitalization of $818.45 million, a P/E ratio of -3.39, a PEG ratio of 0.79 and a beta of 0.91.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.8%. Quanex Building Products’s dividend payout ratio is presently -6.08%.

Wall Street Analyst Weigh In

NX has been the topic of several recent research reports. 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. 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Quanex Building Products has an average rating of “Reduce” and a consensus target price of $28.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NX. IES Holdings Inc. acquired a new position in Quanex Building Products in the fourth quarter valued at about $3,846,000. Jump Financial LLC acquired a new position in Quanex Building Products in the third quarter valued at about $2,617,000. Ameriprise Financial Inc. lifted its position in Quanex Building Products by 7.9% in the second quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after buying an additional 166,518 shares during the last quarter. Trexquant Investment LP lifted its position 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 buying an additional 163,570 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position 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 valued at $2,255,000 after buying an additional 138,156 shares during the last quarter. Institutional investors and hedge funds 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.