Quanex Building Products Corporation (NYSE:NX) Announces Quarterly Dividend of $0.08

Key Points

• Quanex Building Products declared a quarterly dividend of $0.08 per share, payable September 30 to shareholders of record on September 15. The annualized dividend is $0.32, representing a 1.6% yield.
• The dividend appears well covered, with an 11.1% payout ratio and analysts expecting next year’s earnings to support an estimated 14.2% payout ratio.
• Quanex recently exceeded quarterly earnings expectations, reporting $0.25 EPS versus the $0.22 consensus and revenue of $462.37 million. Institutional investors own 97.48% of the company’s shares.

Quanex Building Products Corporation (NYSE:NX - Get Free Report) announced a quarterly dividend on Thursday, August 27th. Investors of record on Tuesday, September 15th will be given a dividend of 0.08 per share by the construction company on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Quanex Building Products has a dividend payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quanex Building Products to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.2%.

Quanex Building Products Stock Down 0.5%

NX stock opened at $19.73 on Friday. The business has a 50 day moving average of $18.81 and a 200 day moving average of $18.85. The firm has a market cap of $906.11 million, a PE ratio of -3.50, a price-to-earnings-growth ratio of 0.85 and a beta of 0.92. Quanex Building Products has a twelve month low of $11.04 and a twelve month high of $22.98. The company has a quick ratio of 1.23, a current ratio of 2.28 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX - Get Free Report) last released its earnings results on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. Quanex Building Products had a positive return on equity of 11.11% and a negative net margin of 13.85%.The business had revenue of $462.37 million for the quarter, compared to the consensus estimate of $459.27 million. On average, research analysts forecast that Quanex Building Products will post 1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Quanex Building Products

Large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its position in Quanex Building Products by 22.6% in the 1st quarter. Royal Bank of Canada now owns 25,578 shares of the construction company's stock worth $476,000 after buying an additional 4,720 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Quanex Building Products by 9.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company's stock valued at $521,000 after acquiring an additional 2,347 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Quanex Building Products by 25.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company's stock valued at $4,586,000 after acquiring an additional 49,895 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Quanex Building Products by 887.4% in the first quarter. Jane Street Group LLC now owns 84,957 shares of the construction company's stock worth $1,579,000 after acquiring an additional 76,353 shares during the period. Finally, Sei Investments Co. grew its stake in shares of Quanex Building Products by 8.0% in the second quarter. Sei Investments Co. now owns 72,103 shares of the construction company's stock worth $1,363,000 after acquiring an additional 5,313 shares during the period. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.

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