Quanex Building Products (NYSE:NX) Posts Earnings Results, Beats Expectations By $0.13 EPS

Quanex Building Products (NYSE:NX) issued its earnings results on Thursday. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13, Zacks reports. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. The firm had revenue of $501.85 million during the quarter, compared to analysts’ expectations of $497.51 million. During the same quarter last year, the company posted ($6.04) earnings per share.

Quanex Building Products Stock Down 0.5%

NX stock opened at $18.84 on Friday. The firm’s fifty day moving average is $18.99 and its 200 day moving average is $18.74. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.23 and a current ratio of 2.28. Quanex Building Products has a one year low of $11.04 and a one year high of $22.98. The firm has a market cap of $865.32 million, a PE ratio of -3.35, a P/E/G ratio of 0.81 and a beta of 0.94.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. Quanex Building Products’s dividend payout ratio is -5.68%.

Wall Street Analyst Weigh In

NX has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a report on Friday, July 17th. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Benchmark reissued a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Quanex Building Products has a consensus rating of “Hold” and a consensus price target of $28.00.

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently bought and sold shares of NX. Orion Porfolio Solutions LLC grew its holdings in Quanex Building Products by 5.6% in the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock valued at $218,000 after purchasing an additional 614 shares during the period. The Manufacturers Life Insurance Company grew its stake in Quanex Building Products by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock valued at $345,000 after acquiring an additional 754 shares during the period. Danske Bank A S purchased a new stake in Quanex Building Products in the 3rd quarter worth $26,000. Quarry LP increased its holdings in Quanex Building Products by 132.0% in the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after acquiring an additional 2,136 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Quanex Building Products during the fourth quarter worth $35,000. Institutional investors and hedge funds 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.