Quanex Building Products Co. (NYSE:NX) Receives Consensus Rating of “Buy” from Analysts

Shares of Quanex Building Products Co. (NYSE:NX) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $18.33.

Separately, Zacks Investment Research upgraded shares of Quanex Building Products from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a report on Friday, September 13th.

NX traded up $0.42 on Tuesday, hitting $18.34. The company had a trading volume of 192,065 shares, compared to its average volume of 290,974. The firm has a market cap of $594.26 million, a P/E ratio of 28.22 and a beta of 1.24. Quanex Building Products has a 1 year low of $10.70 and a 1 year high of $19.44. The company’s fifty day moving average price is $17.75 and its 200 day moving average price is $17.26. The company has a current ratio of 2.15, a quick ratio of 1.17 and a debt-to-equity ratio of 0.53.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.05. The firm had revenue of $238.50 million for the quarter, compared to analyst estimates of $245.73 million. Quanex Building Products had a negative net margin of 1.03% and a positive return on equity of 6.69%. Quanex Building Products’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 EPS. On average, analysts predict that Quanex Building Products will post 0.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.08 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 1.74%. Quanex Building Products’s dividend payout ratio (DPR) is currently 49.23%.

In other Quanex Building Products news, Director Susan F. Davis sold 5,489 shares of Quanex Building Products stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $18.10, for a total value of $99,350.90. Following the completion of the transaction, the director now directly owns 30,671 shares of the company’s stock, valued at approximately $555,145.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan F. Davis sold 8,132 shares of Quanex Building Products stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $19.04, for a total value of $154,833.28. Following the completion of the transaction, the director now directly owns 33,314 shares of the company’s stock, valued at $634,298.56. The disclosure for this sale can be found here. 5.59% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NX. Rhumbline Advisers grew its position in Quanex Building Products by 0.6% in the 1st quarter. Rhumbline Advisers now owns 103,842 shares of the construction company’s stock valued at $1,650,000 after acquiring an additional 619 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Quanex Building Products by 7.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,167 shares of the construction company’s stock valued at $591,000 after acquiring an additional 2,539 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Quanex Building Products by 8.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 46,876 shares of the construction company’s stock valued at $745,000 after acquiring an additional 3,759 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Quanex Building Products in the 1st quarter valued at about $560,000. Finally, O Shaughnessy Asset Management LLC grew its position in Quanex Building Products by 683.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,785 shares of the construction company’s stock valued at $457,000 after acquiring an additional 25,112 shares in the last quarter. 99.16% of the stock is owned by institutional investors.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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