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 Quanex Building Products stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $21.32, for a total transaction of $117,260.00. Following the sale, the senior vice president owned 70,074 shares in the company, valued at $1,493,977.68. This represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Quanex Building Products Price Performance

Shares of NYSE:NX traded down $0.66 during midday trading on Tuesday, reaching $21.09. 472,836 shares of the company’s stock were exchanged, compared to its average volume of 454,660. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 2.23. The company’s 50 day simple moving average is $19.84 and its two-hundred day simple moving average is $19.11. Quanex Building Products Corporation has a 12 month low of $11.04 and a 12 month high of $23.33. The firm has a market capitalization 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.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 3rd. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.13. The firm had revenue of $501.85 million during the quarter, compared to analyst estimates 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 prior year, the business posted ($6.04) earnings per share. Equities research analysts expect that Quanex Building Products Corporation will post 1.82 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Quanex Building Products in the 3rd quarter valued at $376,000. SummerHaven Investment Management LLC acquired a new stake in shares of Quanex Building Products during the third quarter worth $542,000. GAMMA Investing LLC grew its stake in shares of Quanex Building Products by 63.6% during the third quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock worth $99,000 after purchasing an additional 2,032 shares during the period. Moody National Bank Trust Division increased its holdings in Quanex Building Products by 7.1% in the third quarter. Moody National Bank Trust Division now owns 56,787 shares of the construction company’s stock valued at $1,072,000 after purchasing an additional 3,745 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in Quanex Building Products in the second quarter valued at about $634,000. Institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.