Quanex Building Products (NYSE:NX) Trading 4.4% Higher – Here’s Why

Quanex Building Products Co. (NYSE:NX)’s stock price traded up 4.4% during mid-day trading on Friday . The company traded as high as $17.45 and last traded at $17.36. 545,945 shares were traded during mid-day trading, an increase of 17% from the average session volume of 465,495 shares. The stock had previously closed at $16.62.

Analyst Upgrades and Downgrades

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

Quanex Building Products Price Performance

The stock has a market cap of $830.88 million, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The business’s 50-day simple moving average is $20.30 and its two-hundred day simple moving average is $24.99.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.32 dividend on an annualized basis and a yield of 1.82%. Quanex Building Products’s dividend payout ratio is 52.46%.

Institutional Investors Weigh In On Quanex Building Products

Institutional investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its stake in shares of Quanex Building Products by 1.3% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 45,277 shares of the construction company’s stock valued at $1,097,000 after purchasing an additional 562 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Quanex Building Products by 69.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after acquiring an additional 605 shares during the period. Hancock Whitney Corp grew its stake in Quanex Building Products by 5.1% during the fourth quarter. Hancock Whitney Corp now owns 12,672 shares of the construction company’s stock valued at $307,000 after acquiring an additional 612 shares in the last quarter. Quarry LP increased its holdings in Quanex Building Products by 150.8% during the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares during the period. Finally, Lazard Asset Management LLC lifted its stake in Quanex Building Products by 3.5% in the 4th quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company’s stock worth $710,000 after purchasing an additional 997 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.