Quanex Building Products Co. (NYSE:NX) Given Average Recommendation of “Buy” by Analysts


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Shares of Quanex Building Products Co. (NYSE:NX) have earned an average recommendation of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.33.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Quanex Building Products from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 12th. Zacks Investment Research upgraded shares of Quanex Building Products from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective on the stock in a report on Thursday, January 7th. Finally, TheStreet upgraded shares of Quanex Building Products from a “c” rating to a “b” rating in a report on Thursday, December 10th.

Shares of NYSE NX traded down $0.45 during trading on Wednesday, hitting $25.89. 182,839 shares of the company traded hands, compared to its average volume of 209,280. The business’s fifty day moving average is $22.41 and its 200 day moving average is $18.41. Quanex Building Products has a fifty-two week low of $7.90 and a fifty-two week high of $26.59. The firm has a market capitalization of $849.92 million, a price-to-earnings ratio of 21.94 and a beta of 1.61. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.25 and a current ratio of 1.85.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Wednesday, December 9th. The construction company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.21. Quanex Building Products had a net margin of 4.52% and a return on equity of 12.30%. The firm had revenue of $255.40 million for the quarter, compared to analyst estimates of $238.10 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Quanex Building Products will post 1.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, December 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.24%. Quanex Building Products’s dividend payout ratio is presently 25.81%.

In other Quanex Building Products news, CEO George Laverne Wilson sold 22,200 shares of the company’s stock in a transaction dated Thursday, January 7th. The shares were sold at an average price of $25.08, for a total value of $556,776.00. Also, Chairman William C. Griffiths sold 100,000 shares of the company’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $22.67, for a total transaction of $2,267,000.00. Following the completion of the sale, the chairman now directly owns 241,768 shares of the company’s stock, valued at $5,480,880.56. The disclosure for this sale can be found here. Insiders sold a total of 221,778 shares of company stock worth $5,023,404 in the last 90 days. 4.09% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN grew its position in Quanex Building Products by 6.5% in the 3rd quarter. Wells Fargo & Company MN now owns 2,708,321 shares of the construction company’s stock worth $49,943,000 after purchasing an additional 165,842 shares in the last quarter. Segall Bryant & Hamill LLC raised its position in Quanex Building Products by 64.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,074,084 shares of the construction company’s stock worth $19,812,000 after purchasing an additional 419,260 shares during the period. Charles Schwab Investment Management Inc. raised its position in Quanex Building Products by 10.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 533,102 shares of the construction company’s stock worth $7,400,000 after purchasing an additional 50,630 shares during the period. Principal Financial Group Inc. raised its position in Quanex Building Products by 97.9% in the 3rd quarter. Principal Financial Group Inc. now owns 520,538 shares of the construction company’s stock worth $9,598,000 after purchasing an additional 257,522 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Quanex Building Products by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 446,060 shares of the construction company’s stock worth $6,191,000 after purchasing an additional 9,223 shares during the period. 88.32% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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