Insider Buying: Quanex Building Products Co. (NYSE:NX) CEO Buys 4,328 Shares of Stock

Quanex Building Products Co. (NYSE:NX) CEO George Laverne Wilson bought 4,328 shares of Quanex Building Products stock in a transaction dated Thursday, December 19th. The stock was acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the acquisition, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Quanex Building Products Trading Up 8.5 %

Quanex Building Products stock opened at $25.10 on Friday. Quanex Building Products Co. has a 12 month low of $22.92 and a 12 month high of $39.31. 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 stock has a market cap of $1.19 billion, a P/E ratio of 22.41, a P/E/G ratio of 0.89 and a beta of 1.24. The company’s fifty day simple moving average is $29.36 and its 200-day simple moving average is $28.80.

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

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Monday, December 16th. Quanex Building Products’s payout ratio is 28.57%.

Analyst Ratings Changes

NX has been the subject of several research analyst reports. StockNews.com downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Institutional Trading of Quanex Building Products

A number of institutional investors and hedge funds have recently made changes to their positions in NX. Hennessy Advisors Inc. bought a new position in shares of Quanex Building Products in the second quarter valued at approximately $6,263,000. Bank of New York Mellon Corp grew its stake in Quanex Building Products by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 349,870 shares of the construction company’s stock valued at $9,674,000 after buying an additional 3,283 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Quanex Building Products by 30.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,146 shares of the construction company’s stock worth $281,000 after acquiring an additional 2,374 shares during the period. Innealta Capital LLC bought a new stake in Quanex Building Products during the second quarter valued at about $46,000. Finally, nVerses Capital LLC grew its position in shares of Quanex Building Products by 900.0% in the second quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock valued at $55,000 after purchasing an additional 1,800 shares during the last quarter. Institutional investors and hedge funds 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.