Quanex Building Products (NYSE:NX) Shares Down 5.6% - Here's What Happened

Key Points

• Quanex Building Products shares fell 5.6% to about $21.65, with trading volume approximately 85% below the average session volume.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $28.00 target price; ratings range from Buy to Sell.
• The company exceeded quarterly expectations, reporting $0.79 EPS versus a $0.66 estimate and revenue of $501.85 million, while declaring a quarterly dividend of $0.08 per share.

Quanex Building Products Corporation (NYSE:NX - Get Free Report) traded down 5.6% during trading on Tuesday . The company traded as low as $22.37 and last traded at $21.6480. Approximately 69,597 shares traded hands during trading, a decline of 85% from the average session volume of 454,994 shares. The stock had previously closed at $22.93.

Analysts Set New Price Targets

NX has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating on shares of Quanex Building Products in a research note on Thursday, August 27th. Weiss Ratings reiterated a "sell (d)" rating on shares of Quanex Building Products in a report on Friday, July 17th. Finally, Zacks Research raised shares of Quanex Building Products from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $28.00.

Quanex Building Products Price Performance

The company has a market capitalization of $1.01 billion, a P/E ratio of 22.34, a PEG ratio of 0.93 and a beta of 0.94. The stock's fifty day simple moving average is $19.17 and its 200-day simple moving average is $18.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.23 and a quick ratio of 1.21.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.13. The business had revenue of $501.85 million during the quarter, compared to analysts' expectations of $497.51 million. Quanex Building Products had a return on equity of 11.61% and a net margin of 2.43%.During the same quarter in the previous year, the firm earned ($6.04) EPS. On average, equities analysts forecast that Quanex Building Products Corporation will post 1.77 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Quanex Building Products's dividend payout ratio is currently 32.32%.

Hedge Funds Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently bought and sold shares of NX. Danske Bank A S acquired a new position in Quanex Building Products during the 3rd quarter valued at $26,000. Public Employees Retirement System of Ohio acquired a new position in shares of Quanex Building Products during the second quarter valued at about $36,000. Hantz Financial Services Inc. lifted its stake in shares of Quanex Building Products by 199.9% in the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company's stock valued at $33,000 after buying an additional 1,415 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Quanex Building Products during the fourth quarter worth about $35,000. Finally, Meeder Asset Management Inc. bought a new position in Quanex Building Products during the fourth quarter valued at about $42,000. Institutional investors own 97.48% of the company's stock.

About Quanex Building Products

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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