Quanex Building Products (NYSE:NX) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Quanex Building Products (NYSE:NX) from a hold rating to a sell rating in a research report sent to investors on Sunday.

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

Quanex Building Products Stock Performance

Shares of NYSE NX opened at $25.18 on Friday. Quanex Building Products has a one year low of $22.92 and a one 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 firm has a market cap of $1.19 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 0.89 and a beta of 1.25. The stock’s fifty day moving average price is $29.20 and its two-hundred day moving average price is $28.69.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period in the prior year, the company posted $0.95 earnings per share. On average, equities analysts forecast that Quanex Building Products will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.27%. Quanex Building Products’s dividend payout ratio is 28.57%.

Insiders Place Their Bets

In other news, CEO George Laverne Wilson bought 4,328 shares of the stock in a transaction on Thursday, December 19th. The stock was 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 directly owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.15% of the company’s stock.

Institutional Trading of Quanex Building Products

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Quanex Building Products by 69.4% in the third 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. Quarry LP increased its holdings in Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after purchasing an additional 677 shares during the period. TD Asset Management Inc raised its position in Quanex Building Products by 3.4% during the 2nd quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock worth $669,000 after purchasing an additional 800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Quanex Building Products by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,318 shares of the construction company’s stock worth $479,000 after buying an additional 1,038 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.