Quanex Building Products (NYSE:NX) Stock Passes Above 200-Day Moving Average - Here's Why

Key Points

• Quanex Building Products shares rose above their 200-day moving average, reaching $20.36 and last trading at $20.22, compared with the average of $18.73.
• Recent analyst views improved, but the overall consensus remains “Hold” with a $28.00 target price. The company also exceeded quarterly expectations, reporting $0.79 EPS versus the $0.66 estimate and revenue of $501.85 million.
• Quanex declared a quarterly dividend of $0.08 per share, equivalent to an annualized $0.32 and a 1.6% yield; institutional investors own approximately 97.48% of the stock.

Shares of Quanex Building Products Corporation (NYSE:NX - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $18.73 and traded as high as $20.36. Quanex Building Products shares last traded at $20.22, with a volume of 329,593 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Zacks Research raised Quanex Building Products from a "strong sell" rating to a "hold" rating in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Quanex Building Products from a "hold" rating to a "strong-buy" rating in a research note on Saturday, September 12th. Weiss Ratings raised shares of Quanex Building Products from a "sell (d)" rating to a "hold (c)" rating in a report on Tuesday, September 8th. Finally, Benchmark reiterated a "buy" rating on shares of Quanex Building Products in a research note on Thursday, August 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Quanex Building Products has a consensus rating of "Hold" and a consensus target price of $28.00.

Quanex Building Products Stock Up 0.6%

The stock has a market cap of $926.68 million, a PE ratio of 20.42, a price-to-earnings-growth ratio of 0.79 and a beta of 0.94. The firm has a fifty day moving average of $19.94 and a 200 day moving average of $18.73. The company has a quick ratio of 1.21, a current ratio of 2.23 and a debt-to-equity ratio of 0.85.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings results on Thursday, September 3rd. The construction company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Quanex Building Products had a return on equity of 11.61% and a net margin of 2.43%.The company had revenue of $501.85 million during the quarter, compared to the consensus estimate of $497.51 million. During the same period in the previous year, the business earned ($6.04) EPS. On average, equities research analysts anticipate that Quanex Building Products Corporation will post 1.82 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Quanex Building Products's dividend payout ratio is 32.32%.

Institutional Trading of Quanex Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NX. Integrated Wealth Concepts LLC acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Quanex Building Products in the 2nd quarter valued at $36,000. Hantz Financial Services Inc. grew its position in shares of Quanex Building Products by 199.9% in the 4th 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Quanex Building Products during the 4th quarter worth $35,000. Finally, Allworth Financial LP acquired a new stake in Quanex Building Products during the 2nd quarter worth $51,000. Institutional investors and hedge funds own 97.48% of the company's stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation NYSE: NX manufactures components and systems used in the fenestration and cabinet industries. Its products are incorporated into residential and commercial windows, doors, and related building products rather than typically sold directly to consumers.

The company's product portfolio includes insulating glass components, window and door screens, vinyl profiles, hardware, sealing and weatherstripping products, and other engineered components used by window and door manufacturers.

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