Quanex Building Products (NYSE:NX) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a buy rating in a research report released on Friday.

Separately, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Trading Up 0.1 %

Shares of Quanex Building Products stock opened at $29.20 on Friday. Quanex Building Products has a 1-year low of $24.85 and a 1-year high of $39.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market cap of $1.38 billion, a P/E ratio of 12.98, a P/E/G ratio of 0.93 and a beta of 1.24. The stock’s 50 day simple moving average is $29.45 and its 200-day simple moving average is $29.16.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The company had revenue of $280.35 million during the quarter, compared to analysts’ expectations of $278.00 million. During the same period in the prior year, the business earned $0.97 EPS. Analysts predict that Quanex Building Products will post 2.1 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.10%. Quanex Building Products’s dividend payout ratio (DPR) is 14.22%.

Institutional Trading of Quanex Building Products

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Quanex Building Products by 38.7% during the third quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after buying an additional 32,158 shares during the period. Susquehanna International Group Ltd. acquired a new position in shares of Quanex Building Products in the 2nd quarter worth approximately $611,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Quanex Building Products by 292.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock worth $2,289,000 after purchasing an additional 61,444 shares during the period. Loomis Sayles & Co. L P increased its holdings in Quanex Building Products by 5.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 365,517 shares of the construction company’s stock valued at $10,143,000 after purchasing an additional 19,361 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Quanex Building Products by 10,450.0% in the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after purchasing an additional 2,090 shares during the period. 97.48% of the stock is owned by institutional investors and hedge funds.

About Quanex Building Products

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.