Quanex Building Products (NYSE:NX) Hits New 52-Week Low – What’s Next?

Quanex Building Products Co. (NYSE:NX) shares hit a new 52-week low during trading on Monday . The company traded as low as $21.48 and last traded at $21.72, with a volume of 7633 shares trading hands. The stock had previously closed at $21.80.

Wall Street Analyst Weigh In

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

Quanex Building Products Stock Performance

The stock’s 50 day moving average is $27.61 and its two-hundred day moving average is $28.19. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 19.29, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same quarter in the previous year, the firm posted $0.95 EPS. Analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling

In other news, CEO George Laverne Wilson bought 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were bought at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.15% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Quanex Building Products by 38.7% during the third quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after purchasing an additional 32,158 shares during the period. Principal Financial Group Inc. lifted its holdings in Quanex Building Products by 28.8% during the 3rd quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after buying an additional 49,716 shares during the period. Susquehanna International Group Ltd. acquired a new stake in shares of Quanex Building Products in the second quarter valued at about $611,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Quanex Building Products by 292.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock valued at $2,289,000 after buying an additional 61,444 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Quanex Building Products by 37.9% during the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after acquiring an additional 286,128 shares during the last quarter. 97.48% of the stock is owned by 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.