Quanex Building Products (NYSE:NX) Hits New 52-Week Low at $18.87

Shares of Quanex Building Products Co. (NYSE:NXGet Rating) reached a new 52-week low during trading on Friday . The stock traded as low as $18.87 and last traded at $18.89, with a volume of 420 shares changing hands. The stock had previously closed at $19.25.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Quanex Building Products from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 9th.

Quanex Building Products Trading Down 1.0 %

The stock has a market cap of $631.46 million, a price-to-earnings ratio of 7.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.93 and a quick ratio of 1.06. The business’s 50 day moving average is $23.06 and its 200 day moving average is $22.00.

Quanex Building Products (NYSE:NXGet Rating) last posted its quarterly earnings results on Thursday, September 1st. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.18. Quanex Building Products had a net margin of 7.01% and a return on equity of 19.60%. During the same quarter in the previous year, the company earned $0.42 earnings per share. As a group, equities analysts expect that Quanex Building Products Co. will post 2.49 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Thursday, September 15th. Quanex Building Products’s payout ratio is 12.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP purchased a new stake in Quanex Building Products in the 2nd quarter worth about $294,000. Macquarie Group Ltd. boosted its position in shares of Quanex Building Products by 87.6% during the 2nd quarter. Macquarie Group Ltd. now owns 54,980 shares of the construction company’s stock valued at $1,251,000 after acquiring an additional 25,680 shares in the last quarter. First Republic Investment Management Inc. lifted its position in shares of Quanex Building Products by 3.9% during the 2nd quarter. First Republic Investment Management Inc. now owns 55,662 shares of the construction company’s stock worth $1,266,000 after buying an additional 2,065 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Quanex Building Products by 20.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 32,801 shares of the construction company’s stock valued at $746,000 after purchasing an additional 5,620 shares during the last quarter. Finally, State Street Corp grew its stake in Quanex Building Products by 1.9% during the second quarter. State Street Corp now owns 1,218,983 shares of the construction company’s stock worth $27,732,000 after buying an additional 23,046 shares during the last quarter. 97.68% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

(Get Rating)

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.

Further Reading

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