Quanex Building Products Co. (NYSE:NX) Sees Large Growth in Short Interest

Quanex Building Products Co. (NYSE:NX) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,900,000 shares, an increase of 21.3% from the February 28th total of 2,390,000 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average trading volume of 540,500 shares, the short-interest ratio is currently 5.4 days.

Analyst Ratings Changes

Separately, StockNews.com cut Quanex Building Products from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd.

Quanex Building Products Trading Down 11.4 %

NX stock traded down $2.16 during trading on Thursday, reaching $16.80. 250,998 shares of the stock were exchanged, compared to its average volume of 462,967. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $793.06 million, a price-to-earnings ratio of 14.95, a P/E/G ratio of 0.68 and a beta of 1.33. The business has a 50 day moving average price of $20.53 and a 200-day moving average price of $25.14. Quanex Building Products has a 1 year low of $16.63 and a 1 year high of $38.98.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.90%. The ex-dividend date was Monday, March 17th. Quanex Building Products’s dividend payout ratio (DPR) is presently 52.46%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Quanex Building Products during the 4th quarter worth approximately $848,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Quanex Building Products by 12.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 69,573 shares of the construction company’s stock worth $1,686,000 after acquiring an additional 7,805 shares during the period. Systematic Financial Management LP boosted its holdings in Quanex Building Products by 2.8% in the fourth quarter. Systematic Financial Management LP now owns 1,050,230 shares of the construction company’s stock valued at $25,458,000 after purchasing an additional 28,228 shares during the period. SG Capital Management LLC purchased a new stake in Quanex Building Products during the 4th quarter worth about $3,665,000. Finally, Shell Asset Management Co. lifted its stake in Quanex Building Products by 14.6% in the fourth quarter. Shell Asset Management Co. now owns 18,494 shares of the construction company’s stock worth $448,000 after acquiring an additional 2,363 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.