Quanex Building Products Co. (NYSE:NX) Short Interest Down 26.6% in September

Quanex Building Products Co. (NYSE:NX) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 1,570,000 shares, a drop of 26.6% from the September 15th total of 2,140,000 shares. Based on an average daily volume of 692,200 shares, the days-to-cover ratio is presently 2.3 days.

Quanex Building Products Stock Performance

Shares of NX opened at $28.46 on Friday. The stock has a 50-day moving average of $27.47 and a two-hundred day moving average of $30.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market cap of $1.34 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.92 and a beta of 1.26. Quanex Building Products has a one year low of $24.85 and a one year high of $39.31.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The firm had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter last year, the company posted $0.97 earnings per share. As a group, research analysts predict that Quanex Building Products will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s payout ratio is presently 14.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NX shares. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com raised Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds have recently bought and sold shares of the stock. Artemis Investment Management LLP acquired a new position in Quanex Building Products in the 3rd quarter worth about $15,343,000. Hennessy Advisors Inc. purchased a new stake in shares of Quanex Building Products during the second quarter worth about $6,263,000. Pacer Advisors Inc. raised its position in shares of Quanex Building Products by 14.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock worth $35,810,000 after purchasing an additional 165,121 shares during the last quarter. American Century Companies Inc. lifted its stake in Quanex Building Products by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 807,464 shares of the construction company’s stock valued at $22,326,000 after buying an additional 96,095 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Quanex Building Products by 512.1% in the 2nd quarter. Bank of Montreal Can now owns 69,679 shares of the construction company’s stock valued at $1,998,000 after buying an additional 58,295 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.