Quanex Building Products (NYSE:NX) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Quanex Building Products (NYSE:NX) issued its quarterly earnings data on Thursday. The construction company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03, FiscalAI reports. The business had revenue of $462.37 million during the quarter, compared to the consensus estimate of $459.28 million. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%.

Quanex Building Products Trading Down 1.7%

Shares of NX stock traded down $0.31 during trading hours on Thursday, hitting $17.82. 465,173 shares of the company’s stock traded hands, compared to its average volume of 497,996. The stock’s 50 day simple moving average is $18.84 and its 200 day simple moving average is $17.76. The stock has a market cap of $818.38 million, a PE ratio of -3.39, a price-to-earnings-growth ratio of 0.81 and a beta of 0.91. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $22.98. The company has a quick ratio of 1.21, a current ratio of 2.31 and a debt-to-equity ratio of 0.93.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.8%. Quanex Building Products’s dividend payout ratio (DPR) is presently -6.08%.

Institutional Investors Weigh In On Quanex Building Products

Several large investors have recently modified their holdings of NX. Orion Porfolio Solutions LLC lifted its position in shares of Quanex Building Products by 5.6% during the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock valued at $218,000 after purchasing an additional 614 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Quanex Building Products by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock valued at $345,000 after purchasing an additional 754 shares in the last quarter. Danske Bank A S bought a new position in shares of Quanex Building Products during the third quarter valued at about $26,000. Quarry LP lifted its position in shares of Quanex Building Products by 132.0% during the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after purchasing an additional 2,136 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Quanex Building Products during the fourth quarter valued at about $35,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NX shares. Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Quanex Building Products presently has a consensus rating of “Reduce” and an average price target of $28.00.

About Quanex Building Products

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.