Quanex Building Products (NYSE:NX) Releases Earnings Results, Beats Expectations By $0.33 EPS

Quanex Building Products (NYSE:NX) issued its earnings results on Thursday. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33, FiscalAI reports. The firm had revenue of $489.85 million during the quarter, compared to the consensus estimate of $472.62 million. Quanex Building Products had a negative net margin of 15.45% and a positive return on equity of 10.48%.

Quanex Building Products Price Performance

Shares of NX stock traded up $0.58 on Thursday, reaching $15.08. The company had a trading volume of 1,283,226 shares, compared to its average volume of 519,365. The business’s 50-day moving average is $13.68 and its 200 day moving average is $16.89. Quanex Building Products has a one year low of $11.04 and a one year high of $29.67. The company has a quick ratio of 1.18, a current ratio of 2.20 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $691.87 million, a PE ratio of -2.42, a price-to-earnings-growth ratio of 0.45 and a beta of 0.97.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Monday, December 15th. Quanex Building Products’s payout ratio is currently -5.14%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Prelude Capital Management LLC acquired a new position in Quanex Building Products in the 3rd quarter worth about $317,000. Rafferty Asset Management LLC grew its holdings in shares of Quanex Building Products by 20.3% during the second quarter. Rafferty Asset Management LLC now owns 16,548 shares of the construction company’s stock worth $313,000 after purchasing an additional 2,788 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Quanex Building Products in the second quarter valued at approximately $267,000. Inceptionr LLC acquired a new position in shares of Quanex Building Products in the third quarter valued at approximately $219,000. Finally, Orion Porfolio Solutions LLC raised its holdings in Quanex Building Products by 5.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock valued at $218,000 after buying an additional 614 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NX. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Wednesday, October 8th. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

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.