Quanex Building Products (NYSE:NX) Shares Gap Up Following Earnings Beat

Quanex Building Products Co. (NYSE:NX - Get Free Report)'s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $17.09, but opened at $20.80. Quanex Building Products shares last traded at $20.37, with a volume of 286,662 shares trading hands.

The construction company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.12. The firm had revenue of $452.48 million for the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Monday, June 16th. Quanex Building Products's payout ratio is currently 52.46%.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in shares of Quanex Building Products by 391.4% during the 3rd quarter. Barclays PLC now owns 83,794 shares of the construction company's stock worth $2,325,000 after purchasing an additional 66,742 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Quanex Building Products by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,267,847 shares of the construction company's stock worth $127,693,000 after buying an additional 51,142 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Quanex Building Products by 54.4% during the 4th quarter. Deutsche Bank AG now owns 35,859 shares of the construction company's stock worth $869,000 after buying an additional 12,628 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Quanex Building Products during the 4th quarter worth approximately $195,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Quanex Building Products by 4.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,598 shares of the construction company's stock worth $572,000 after buying an additional 1,048 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. The stock has a market cap of $961.69 million, a PE ratio of 18.23, a PEG ratio of 0.68 and a beta of 1.01. The stock's 50-day moving average is $17.24 and its two-hundred day moving average is $21.29.

Quanex Building Products Company Profile

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.

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