Quanex Building Products (NYSE:NX) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of Quanex Building Products (NYSE:NX) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also recently weighed in on NX. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Benchmark reaffirmed a “buy” rating on shares of Quanex Building Products in a research note on Thursday, August 27th. Finally, Weiss Ratings upgraded Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.00.

Quanex Building Products Price Performance

Shares of NX stock traded down $0.13 during mid-day trading on Friday, reaching $19.21. The stock had a trading volume of 581,092 shares, compared to its average volume of 408,144. The company has a market cap of $880.49 million, a P/E ratio of 19.41, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. The company has a current ratio of 2.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $23.33. The business has a 50-day simple moving average of $20.12 and a 200 day simple moving average of $19.21.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. Quanex Building Products had a net margin of 2.43% and a return on equity of 11.61%. The business had revenue of $501.85 million for the quarter, compared to analyst estimates of $497.51 million. During the same period in the previous year, the firm earned ($6.04) EPS. On average, sell-side analysts anticipate that Quanex Building Products will post 1.82 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.08 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.32 annualized dividend and a yield of 1.7%. Quanex Building Products’s dividend payout ratio is 32.32%.

Insider Transactions at Quanex Building Products

In other Quanex Building Products news, SVP Paul Cornett sold 5,500 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $21.32, for a total value of $117,260.00. Following the sale, the senior vice president directly owned 70,074 shares of the company’s stock, valued at approximately $1,493,977.68. This trade represents a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in Quanex Building Products during the second quarter worth approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in Quanex Building Products during the second quarter worth approximately $36,000. Allworth Financial LP acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $51,000. GAMMA Investing LLC boosted its holdings in shares of Quanex Building Products by 63.6% in the 3rd quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock valued at $99,000 after purchasing an additional 2,032 shares during the last quarter. Finally, Byrne Asset Management LLC grew its stake in shares of Quanex Building Products by 58.5% during the 2nd quarter. Byrne Asset Management LLC now owns 8,290 shares of the construction company’s stock valued at $154,000 after buying an additional 3,060 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

About Quanex Building Products

Quanex Building Products Corporation is a manufacturer of components used in residential and commercial building products. Its offerings serve window, door, and cabinet makers, with products that include window and door components, screens, hardware, seals and weatherstripping, insulated-glass components, and cabinet doors and related parts. The company sells to manufacturers and other customers in the building-products supply chain. Its operations serve markets in North America and internationally, providing components used in both new construction and renovation projects.