Quanex Building Products (NYSE:NX) Sees Unusually-High Trading Volume – Time to Buy?

Quanex Building Products Co. (NYSE:NX) shares saw an uptick in trading volume on Wednesday . 1,028,742 shares were traded during trading, an increase of 189% from the previous session’s volume of 356,333 shares.The stock last traded at $30.11 and had previously closed at $29.07.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Tuesday, October 8th. Benchmark restated a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Stock Performance

The stock’s 50-day moving average is $27.69 and its 200 day moving average is $30.42. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 0.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same quarter last year, the company earned $0.97 earnings per share. As a group, analysts predict that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.11%.

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System lifted its holdings in Quanex Building Products by 224.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 30,627 shares of the construction company’s stock worth $1,177,000 after purchasing an additional 21,189 shares during the period. SageView Advisory Group LLC purchased a new position in shares of Quanex Building Products during the first quarter valued at $983,000. Susquehanna International Group Ltd. acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at about $611,000. Hillsdale Investment Management Inc. purchased a new stake in Quanex Building Products in the 1st quarter worth approximately $1,023,000. Finally, Victory Capital Management Inc. boosted its position in Quanex Building Products by 174.2% during the second quarter. Victory Capital Management Inc. now owns 83,052 shares of the construction company’s stock valued at $2,296,000 after purchasing an additional 52,767 shares during the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.