Quanex Building Products (NYSE:NX) Stock Price Up 6.5% – Still a Buy?

Quanex Building Products Co. (NYSE:NX) shares were up 6.5% during mid-day trading on Thursday . The stock traded as high as $21.99 and last traded at $21.90. Approximately 74,219 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 355,169 shares. The stock had previously closed at $20.56.

Analysts Set New Price Targets

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

Quanex Building Products Stock Down 3.0 %

The firm has a market capitalization of $1.01 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28. 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 50-day moving average of $24.51 and a two-hundred day moving average of $27.39.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business posted $0.95 EPS. On average, equities research analysts forecast that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.50%. Quanex Building Products’s dividend payout ratio (DPR) is 28.57%.

Insider Transactions at Quanex Building Products

In related news, CEO George Laverne Wilson bought 4,328 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its position in 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 buying an additional 1,733,932 shares during the last quarter. Pacer Advisors Inc. purchased a new position in Quanex Building Products in the fourth quarter valued at about $25,380,000. State Street Corp grew its stake in Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after purchasing an additional 351,778 shares in the last quarter. Impax Asset Management Group plc purchased a new stake in Quanex Building Products during the 4th quarter worth approximately $8,187,000. Finally, Geode Capital Management LLC raised its position in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after purchasing an additional 286,128 shares in the last quarter. 97.48% of the stock is 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.