Quanex Building Products (NYSE:NX) Given “Buy” Rating at Benchmark

Benchmark reiterated their buy rating on shares of Quanex Building Products (NYSE:NX) in a report released on Tuesday morning, Benzinga reports. Benchmark currently has a $38.00 target price on the construction company’s stock.

Quanex Building Products Stock Up 3.1 %

Shares of NX stock opened at $34.75 on Tuesday. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.00 and a beta of 1.35. Quanex Building Products has a one year low of $18.71 and a one year high of $39.31. The company’s fifty day moving average price is $35.67 and its 200-day moving average price is $32.14. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $239.16 million for the quarter, compared to the consensus estimate of $232.90 million. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. Sell-side analysts expect that Quanex Building Products will post 2.4 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.92%. Quanex Building Products’s payout ratio is 12.17%.

Insider Activity at Quanex Building Products

In related news, SVP Paul Cornett sold 3,064 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total transaction of $115,574.08. Following the completion of the transaction, the senior vice president now directly owns 43,902 shares of the company’s stock, valued at $1,655,983.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.15% of the stock is currently owned by corporate insiders.

Institutional Trading of Quanex Building Products

Large investors have recently made changes to their positions in the business. Oliver Luxxe Assets LLC bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $782,000. Ritholtz Wealth Management increased its holdings in shares of Quanex Building Products by 2.0% in the 4th quarter. Ritholtz Wealth Management now owns 18,946 shares of the construction company’s stock worth $579,000 after buying an additional 373 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Quanex Building Products by 3.1% in the 3rd quarter. Invesco Ltd. now owns 327,436 shares of the construction company’s stock worth $9,224,000 after buying an additional 9,875 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $1,376,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $112,000. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Company Profile

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.