Quanex Building Products (NYSE:NX) Sets New 1-Year Low – Time to Sell?

Quanex Building Products Co. (NYSE:NX)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $18.14 and last traded at $18.66, with a volume of 482357 shares changing hands. The stock had previously closed at $18.89.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Stock Performance

The stock has a 50-day moving average of $22.26 and a 200 day moving average of $26.28. The firm has a market capitalization of $881.01 million, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 0.68 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24.

Quanex Building Products (NYSE:NX) last announced its earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a return on equity of 11.79% and a net margin of 2.59%. During the same quarter in the previous year, the firm earned $0.95 EPS. On average, research analysts anticipate that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, March 17th. Quanex Building Products’s dividend payout ratio (DPR) is 28.57%.

Insider Buying and Selling at Quanex Building Products

In related news, CEO George Laverne Wilson acquired 4,328 shares of Quanex Building Products stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now directly owns 287,644 shares in the company, valued at $6,624,441.32. This trade represents a 1.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Quanex Building Products by 779.2% in the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company’s stock valued at $47,424,000 after purchasing an additional 1,733,932 shares in the last quarter. Pacer Advisors Inc. bought a new position in Quanex Building Products during the fourth quarter worth $25,380,000. Deprince Race & Zollo Inc. lifted its holdings in shares of Quanex Building Products by 716.4% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company’s stock worth $26,942,000 after purchasing an additional 975,324 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Quanex Building Products by 442.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 891,457 shares of the construction company’s stock valued at $21,609,000 after buying an additional 727,125 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Quanex Building Products by 29.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company’s stock valued at $48,190,000 after acquiring an additional 449,646 shares during the last quarter. 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.