Quanex Building Products (NYSE:NX) Trading Down 9.3% – What’s Next?

Quanex Building Products Co. (NYSE:NX)’s stock price dropped 9.3% during mid-day trading on Tuesday . The company traded as low as $18.90 and last traded at $18.53. Approximately 204,320 shares were traded during trading, a decline of 51% from the average daily volume of 419,791 shares. The stock had previously closed at $20.42.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded 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’s 50 day moving average price is $21.88 and its 200 day moving average price is $26.06. The company has a current ratio of 2.24, a quick ratio of 1.23 and a debt-to-equity ratio of 0.73. The firm has a market cap of $884.93 million, a PE ratio of 16.74, a P/E/G ratio of 0.68 and a beta of 1.33.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same period in the prior year, the business earned $0.95 earnings per share. As a group, equities analysts forecast that Quanex Building Products Co. will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

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

Insider Activity

In related news, CEO George Laverne Wilson purchased 4,328 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the acquisition, the chief executive officer now owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.15% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NX. CANADA LIFE ASSURANCE Co grew its position in shares of Quanex Building Products by 1.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 45,277 shares of the construction company’s stock worth $1,097,000 after acquiring an additional 562 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after purchasing an additional 605 shares during the last quarter. Hancock Whitney Corp increased its stake in shares of Quanex Building Products by 5.1% in the fourth quarter. Hancock Whitney Corp now owns 12,672 shares of the construction company’s stock valued at $307,000 after purchasing an additional 612 shares during the period. Quarry LP raised its holdings in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after buying an additional 677 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Quanex Building Products by 3.5% during the fourth quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company’s stock worth $710,000 after buying an additional 997 shares during the period. 97.48% of the stock is currently owned by institutional investors.

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.