Quanex Building Products (NYSE:NX) Shares Gap Up After Better-Than-Expected Earnings

Quanex Building Products Co. (NYSE:NX - Get Free Report)'s stock price gapped up prior to trading 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.12. The business had revenue of $452.48 million during the quarter, compared to the consensus estimate 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 firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, June 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.68%. Quanex Building Products's dividend payout ratio is presently 54.24%.

Hedge Funds Weigh In On Quanex Building Products

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CANADA LIFE ASSURANCE Co grew its position in shares of Quanex Building Products by 1.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 45,277 shares of the construction company's stock valued at $1,097,000 after purchasing an additional 562 shares in the last quarter. Hancock Whitney Corp grew its position in shares of Quanex Building Products by 5.1% in the fourth quarter. Hancock Whitney Corp now owns 12,672 shares of the construction company's stock valued at $307,000 after purchasing an additional 612 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Quanex Building Products by 2.4% in the first quarter. SummerHaven Investment Management LLC now owns 29,431 shares of the construction company's stock valued at $547,000 after purchasing an additional 685 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of Quanex Building Products by 3.5% in the fourth quarter. Lazard Asset Management LLC now owns 29,300 shares of the construction company's stock valued at $710,000 after purchasing an additional 997 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Quanex Building Products by 6.6% in the first quarter. Nisa Investment Advisors LLC now owns 16,051 shares of the construction company's stock valued at $298,000 after purchasing an additional 997 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

Quanex Building Products Stock Performance

The company has a 50-day moving average price of $17.25 and a two-hundred day moving average price of $21.01. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $898.95 million, a PE ratio of 17.00, a PEG ratio of 0.68 and a beta of 1.01.

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.