Quanex Building Products (NYSE:NX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a buy rating in a research note published on Tuesday.

Separately, Benchmark reaffirmed a buy rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Trading Down 1.1 %

NX opened at $27.71 on Tuesday. 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 stock has a market cap of $1.31 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.93 and a beta of 1.26. The company has a fifty day moving average of $27.51 and a 200-day moving average of $30.77. Quanex Building Products has a twelve month low of $24.85 and a twelve month high of $39.31.

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

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Institutional Investors Weigh In On Quanex Building Products

Several large investors have recently modified their holdings of NX. GAMMA Investing LLC grew its stake in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Quanex Building Products in the second quarter worth $46,000. nVerses Capital LLC raised its position in shares of Quanex Building Products by 900.0% in 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 boosted its stake in Quanex Building Products by 9,011.1% during the second quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock valued at $91,000 after buying an additional 3,244 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Quanex Building Products during the second quarter valued at $101,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.