Quanex Building Products (NYSE:NX) Sees Strong Trading Volume – Still a Buy?

Quanex Building Products Co. (NYSE:NX) shares saw an uptick in trading volume on Wednesday . 1,028,742 shares traded hands during mid-day trading, an increase of 189% from the previous session’s volume of 356,333 shares.The stock last traded at $30.11 and had previously closed at $29.07.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NX shares. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a report on Wednesday, September 11th. StockNews.com upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th.

Quanex Building Products Stock Up 1.1 %

The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $27.69 and a 200-day simple moving average of $30.42. The company has a market capitalization of $1.01 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.97 and a beta of 1.26.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The company had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. During the same period last year, the business earned $0.97 EPS. On average, equities research analysts expect that Quanex Building Products Co. will post 2.15 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.05%. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.11%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position 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. Innealta Capital LLC acquired a new position in shares of Quanex Building Products during the second quarter valued at about $46,000. nVerses Capital LLC grew its holdings in Quanex Building Products by 900.0% during the second quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after buying an additional 1,800 shares in the last quarter. Quest Partners LLC grew its stake in shares of Quanex Building Products by 9,011.1% in the 2nd quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock worth $91,000 after acquiring an additional 3,244 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Quanex Building Products in the 2nd quarter worth about $101,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.