Quanex Building Products (NYSE:NX) Announces Quarterly Earnings Results

Quanex Building Products (NYSE:NX) released its quarterly earnings data on Thursday. The construction company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04, FiscalAI reports. The firm had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%.

Quanex Building Products Price Performance

NX stock traded down $0.81 during mid-day trading on Thursday, hitting $18.86. The company had a trading volume of 776,489 shares, compared to its average volume of 561,699. The company has a market capitalization of $866.43 million, a price-to-earnings ratio of -3.44, a P/E/G ratio of 0.66 and a beta of 0.91. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $22.98. The company has a quick ratio of 1.14, a current ratio of 2.04 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $19.09 and a 200 day moving average price of $16.60.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Tuesday, March 17th. Quanex Building Products’s payout ratio is currently -5.83%.

Insider Activity

In related news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90. Following the sale, the insider directly owned 4,421,879 shares in the company, valued at approximately $70,484,751.26. The trade was a 2.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently modified their holdings of NX. Danske Bank A S bought a new stake in Quanex Building Products in the third quarter worth $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Quanex Building Products in the fourth quarter valued at $35,000. Meeder Asset Management Inc. purchased a new stake in shares of Quanex Building Products in the fourth quarter valued at $42,000. Quarry LP lifted its holdings in shares of 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 during the last quarter. Finally, Group One Trading LLC boosted its stake in shares of Quanex Building Products by 747.0% during the 4th quarter. Group One Trading LLC now owns 4,989 shares of the construction company’s stock worth $77,000 after purchasing an additional 4,400 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark lowered their price target on Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, December 15th. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

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.