Quanex Building Products (NYSE:NX) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Quanex Building Products (NYSE:NX) from a buy rating to a hold rating in a report issued on Saturday morning.

Separately, Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Trading Down 1.3 %

Shares of Quanex Building Products stock opened at $27.77 on Friday. The company has a 50-day moving average of $29.62 and a two-hundred day moving average of $28.96. Quanex Building Products has a 12-month low of $24.85 and a 12-month high of $39.31. 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 stock has a market cap of $1.31 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned $0.95 earnings per share. On average, research analysts anticipate that Quanex Building Products will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.15%. Quanex Building Products’s dividend payout ratio is currently 28.57%.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew 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 in the last quarter. Quarry LP increased its holdings in Quanex Building Products by 150.8% during the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after purchasing an additional 677 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Quanex Building Products during the 3rd quarter worth approximately $37,000. Public Employees Retirement System of Ohio raised its position in shares of Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after purchasing an additional 605 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Quanex Building Products during the 2nd quarter valued at approximately $46,000. 97.48% of the stock is owned by institutional investors and hedge funds.

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.