Quanex Building Products (NYSE:NX) Reaches New 52-Week Low – Here’s What Happened

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

Analysts Set New Price Targets

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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 0.89 and a beta of 1.30. The company has a 50 day moving average price of $27.61 and a 200 day moving average price of $28.19. 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 (NYSE:NX) last announced its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities research analysts predict that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.48%. Quanex Building Products’s dividend payout ratio is presently 28.57%.

Insider Activity at Quanex Building Products

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

Institutional Trading of Quanex Building Products

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC increased its position in Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after buying an additional 605 shares in the last quarter. Quarry LP boosted its holdings in Quanex Building Products by 150.8% in the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares during the period. TD Asset Management Inc grew its stake in Quanex Building Products by 3.4% in the 2nd quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock valued at $669,000 after buying an additional 800 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Quanex Building Products by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,318 shares of the construction company’s stock valued at $479,000 after acquiring an additional 1,038 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.