Quanex Building Products (NYSE:NX) Reaches New 52-Week Low – Here’s Why

Quanex Building Products Co. (NYSE:NX)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $22.75 and last traded at $22.92, with a volume of 19876 shares trading hands. The stock had previously closed at $23.28.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NX shares. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com lowered Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Trading Down 1.9 %

The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $27.89 and its two-hundred day simple moving average is $28.28.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same quarter last year, the firm earned $0.95 EPS. Research analysts forecast that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Monday, December 16th. Quanex Building Products’s dividend payout ratio is 28.57%.

Insider Transactions at Quanex Building Products

In related news, CEO George Laverne Wilson purchased 4,328 shares of the stock in a transaction on Thursday, December 19th. The shares were purchased at an average price of $23.03 per share, with a total value of $99,673.84. Following the transaction, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This trade represents a 1.53 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanex Building Products

A number of large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in Quanex Building Products by 38.7% during the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock worth $3,197,000 after buying an additional 32,158 shares during the period. Principal Financial Group Inc. increased its position in Quanex Building Products by 28.8% during the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after acquiring an additional 49,716 shares during the period. Susquehanna International Group Ltd. acquired a new stake in Quanex Building Products in the 2nd quarter worth about $611,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Quanex Building Products by 292.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,469 shares of the construction company’s stock worth $2,289,000 after purchasing an additional 61,444 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Quanex Building Products by 37.9% during the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock worth $28,894,000 after purchasing an additional 286,128 shares during the period. Institutional investors own 97.48% of the company’s stock.

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.