Quanex Building Products Co. (NYSE:NX) Sees Significant Drop in Short Interest

Quanex Building Products Co. (NYSE:NX) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,350,000 shares, a drop of 19.0% from the March 15th total of 2,900,000 shares. Currently, 5.1% of the shares of the company are sold short. Based on an average trading volume of 507,900 shares, the short-interest ratio is presently 4.6 days.

Quanex Building Products Price Performance

NX traded down $0.65 during midday trading on Monday, hitting $15.53. 432,704 shares of the company traded hands, compared to its average volume of 481,171. The company has a market capitalization of $733.16 million, a price-to-earnings ratio of 13.87, a PEG ratio of 0.68 and a beta of 1.08. Quanex Building Products has a 52-week low of $15.30 and a 52-week high of $35.92. The business has a 50 day simple moving average of $19.07 and a two-hundred day simple moving average of $24.01. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Monday, March 17th. Quanex Building Products’s dividend payout ratio is currently 52.46%.

Analyst Ratings Changes

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

Institutional Trading of Quanex Building Products

A number of large investors have recently made changes to their positions in NX. Sterling Capital Management LLC grew its stake in shares of Quanex Building Products by 833.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company’s stock worth $34,000 after purchasing an additional 1,267 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after purchasing an additional 605 shares during the period. Federated Hermes Inc. purchased a new stake in Quanex Building Products in the fourth quarter valued at approximately $44,000. GAMMA Investing LLC grew its position in shares of Quanex Building Products by 106.5% during the first quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company’s stock worth $49,000 after acquiring an additional 1,350 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Quanex Building Products by 69.8% in the fourth quarter. KBC Group NV now owns 2,843 shares of the construction company’s stock valued at $69,000 after buying an additional 1,169 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Company Profile

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.