Quanex Building Products (NYSE:NX) Announces Earnings Results

Quanex Building Products (NYSE:NX) issued its earnings results on Thursday. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.13, Zacks reports. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.During the same period in the previous year, the firm posted ($6.04) earnings per share.

Quanex Building Products Trading Down 0.5%

NX traded down $0.09 during midday trading on Thursday, hitting $18.84. 452,936 shares of the company were exchanged, compared to its average volume of 448,995. The firm’s 50 day moving average price is $18.97 and its 200-day moving average price is $18.76. Quanex Building Products has a 1-year low of $11.04 and a 1-year high of $22.98. The firm has a market capitalization of $865.32 million, a P/E ratio of -3.35, a P/E/G ratio of 0.80 and a beta of 0.94. The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.32 annualized dividend and a yield of 1.7%. Quanex Building Products’s payout ratio is presently -5.68%.

Hedge Funds Weigh In On Quanex Building Products

A number of hedge funds have recently made changes to their positions in NX. Orion Porfolio Solutions LLC grew its position in shares of Quanex Building Products by 5.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company’s stock worth $218,000 after buying an additional 614 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Quanex Building Products by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company’s stock valued at $345,000 after acquiring an additional 754 shares during the period. Danske Bank A S acquired a new position in shares of Quanex Building Products during the 3rd quarter valued at $26,000. Quarry LP lifted its position in shares of Quanex Building Products by 132.0% during the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after acquiring an additional 2,136 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Quanex Building Products during the fourth quarter worth $35,000. 97.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” 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.