Quanex Building Products (NYSE:NX) Shares Gap Down – Here’s What Happened

by · The Markets Daily

Quanex Building Products Corporation (NYSE:NX – Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $20.71, but opened at $20.02. Quanex Building Products shares last traded at $20.01, with a volume of 12,005 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a research note on Friday, July 17th. Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

View Our Latest Report on Quanex Building Products

Quanex Building Products Trading Up 3.2%

The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The stock has a 50-day simple moving average of $18.49 and a two-hundred day simple moving average of $18.85. The firm has a market capitalization of $935.09 million, a P/E ratio of -3.62, a price-to-earnings-growth ratio of 0.89 and a beta of 0.92.

Quanex Building Products (NYSE:NX – Get Free Report) last issued its earnings results on Thursday, June 4th. The construction company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.The business had revenue of $462.37 million during the quarter, compared to analysts’ expectations of $459.27 million. On average, equities research analysts anticipate that Quanex Building Products Corporation will post 1.66 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 15th. Quanex Building Products’s payout ratio is presently -5.68%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S bought a new stake in shares of Quanex Building Products in the 3rd quarter valued at about $26,000. Hantz Financial Services Inc. boosted its stake in shares of Quanex Building Products by 199.9% during the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,415 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Quanex Building Products during the fourth quarter valued at approximately $35,000. Public Employees Retirement System of Ohio purchased a new position in Quanex Building Products during the second quarter valued at approximately $36,000. Finally, Meeder Asset Management Inc. purchased a new position in Quanex Building Products during the fourth quarter valued at approximately $42,000. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Company Profile

(Get Free Report)

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.

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