Quanex Building Products (NYSE:NX) Shares Gap Down – Here’s What Happened

Shares of Quanex Building Products Co. (NYSE:NX) gapped down prior to trading on Friday . The stock had previously closed at $28.91, but opened at $26.99. Quanex Building Products shares last traded at $28.00, with a volume of 205,398 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NX shares. Benchmark restated a “buy” rating and set a $38.00 target price on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com raised shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Friday, December 6th.

Quanex Building Products Price Performance

The stock has a market cap of $1.33 billion, a PE ratio of 12.85, a P/E/G ratio of 0.93 and a beta of 1.24. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $29.60 and its 200-day moving average is $29.06.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the prior year, the business posted $0.95 EPS. As a group, sell-side analysts predict that Quanex Building Products Co. will post 2.1 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.14%. Quanex Building Products’s dividend payout ratio (DPR) is 14.22%.

Institutional Investors Weigh In On Quanex Building Products

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock valued at $28,000 after acquiring an additional 393 shares during the period. Quarry LP increased its stake in shares of Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after acquiring an additional 677 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Quanex Building Products during the third quarter valued at approximately $37,000. Public Employees Retirement System of Ohio increased its stake in shares of Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after acquiring an additional 605 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Quanex Building Products during the second quarter valued at approximately $46,000. 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.