Quanex Building Products (NYSE:NX) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Quanex Building Products (NYSE:NX) from a hold rating to a sell rating in a research note published on Sunday morning.

Separately, Benchmark reiterated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Price Performance

NX opened at $25.10 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50 day simple moving average is $29.36 and its 200 day simple moving average is $28.78. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.89 and a beta of 1.24. Quanex Building Products has a 1 year low of $22.92 and a 1 year high of $39.31.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period in the prior year, the business earned $0.95 EPS. As a group, analysts predict that Quanex Building Products will post 2.26 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.27%. The ex-dividend date is Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is currently 28.57%.

Insiders Place Their Bets

In other news, CEO George Laverne Wilson acquired 4,328 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the acquisition, the chief executive officer now owns 287,644 shares in the company, valued at $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed 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

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in Quanex Building Products by 65.4% in the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Quarry LP raised its holdings in Quanex Building Products by 150.8% in the third 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 last quarter. Point72 Hong Kong Ltd bought a new position in shares of Quanex Building Products in the third quarter worth approximately $37,000. Public Employees Retirement System of Ohio grew its holdings in shares of Quanex Building Products by 69.4% during 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 buying an additional 605 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Quanex Building Products during the second quarter valued at approximately $46,000. 97.48% of the stock is currently owned by 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.