Quanex Building Products (NYSE:NX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Separately, Benchmark reiterated a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Price Performance

NX stock opened at $29.19 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. Quanex Building Products has a 1 year low of $24.85 and a 1 year high of $39.31. The firm has a market cap of $1.38 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.24. The stock has a 50-day simple moving average of $29.45 and a 200-day simple moving average of $29.11.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The business had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. During the same quarter last year, the firm earned $0.97 earnings per share. On average, equities analysts predict that Quanex Building Products will post 2.1 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.10%. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NX. Price T Rowe Associates Inc. MD lifted its holdings in Quanex Building Products by 14.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock worth $363,000 after buying an additional 1,171 shares during the last quarter. NorthCrest Asset Manangement LLC bought a new position in Quanex Building Products during the 2nd quarter worth approximately $270,000. Summit Global Investments lifted its holdings in shares of Quanex Building Products by 17.5% in the 2nd quarter. Summit Global Investments now owns 26,567 shares of the construction company’s stock worth $735,000 after purchasing an additional 3,953 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Quanex Building Products in the 2nd quarter worth approximately $6,263,000. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of Quanex Building Products by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock worth $787,000 after purchasing an additional 474 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

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.