Quanex Building Products (NYSE:NX) Sets New 1-Year Low – Here’s Why

Quanex Building Products Co. (NYSE:NX)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $24.85 and last traded at $25.06, with a volume of 730132 shares. The stock had previously closed at $26.44.

Analyst Upgrades and Downgrades

NX has been the subject of a number of research analyst reports. StockNews.com lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, December 14th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Trading Up 8.5 %

The stock has a market capitalization of $1.19 billion, a P/E ratio of 22.41, a P/E/G ratio of 0.89 and a beta of 1.24. The stock’s 50 day moving average price is $29.43 and its 200-day moving average price is $28.85. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.95 EPS. As a group, equities research analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Monday, December 16th. Quanex Building Products’s payout ratio is 28.57%.

Insider Activity

In other Quanex Building Products news, CEO George Laverne Wilson acquired 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was purchased at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the acquisition, the chief executive officer now owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.15% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after acquiring an additional 393 shares during the last quarter. Quarry LP boosted its stake 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 purchasing an additional 677 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Quanex Building Products during the 3rd quarter worth approximately $37,000. Public Employees Retirement System of Ohio grew its position in 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 worth $41,000 after purchasing an additional 605 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in Quanex Building Products during the 2nd quarter valued at approximately $46,000. 97.48% of the stock is owned by institutional investors and hedge funds.

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.