Quanex Building Products (NYSE:NX) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Price action: Quanex (NYSE:NX) passed above its 200‑day moving average of $16.20, trading as high as $17.55 and last at $17.25 on volume of 534,746 shares.
• Analyst stance: Analysts are mixed—Wall Street Zen downgraded to Hold, Benchmark cut its target to $28 (maintaining a Buy), Weiss kept a Sell—giving a consensus rating of "Hold" with a $28 target.
• Fundamentals and shareholder return: The company beat quarterly EPS estimates (reported ($0.01) vs. consensus ($0.05) loss) on $409.09M revenue and declared a $0.08 quarterly dividend (annualized $0.32, ~1.9% yield).

Quanex Building Products Corporation (NYSE:NX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.20 and traded as high as $17.55. Quanex Building Products shares last traded at $17.25, with a volume of 534,746 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen downgraded Quanex Building Products from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Benchmark decreased their target price on Quanex Building Products from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday, December 15th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Quanex Building Products in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Quanex Building Products from a "strong sell" rating to a "hold" rating in a research report on Monday, March 2nd. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $28.00.

Quanex Building Products Trading Up 5.7%

The stock has a market cap of $792.29 million, a price-to-earnings ratio of -3.28, a P/E/G ratio of 0.59 and a beta of 0.91. The business has a 50-day simple moving average of $19.44 and a two-hundred day simple moving average of $16.20. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 2.31.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.05) by $0.04. Quanex Building Products had a negative net margin of 13.00% and a positive return on equity of 12.24%. The company had revenue of $409.09 million for the quarter, compared to the consensus estimate of $405.75 million. As a group, research analysts forecast that Quanex Building Products Corporation will post 2.18 EPS for the current year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.32 annualized dividend and a yield of 1.9%. Quanex Building Products's payout ratio is -6.08%.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds have recently modified their holdings of the stock. Orion Porfolio Solutions LLC raised its holdings in Quanex Building Products by 5.6% during the second quarter. Orion Porfolio Solutions LLC now owns 11,517 shares of the construction company's stock worth $218,000 after acquiring an additional 614 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Quanex Building Products by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,240 shares of the construction company's stock valued at $345,000 after purchasing an additional 754 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Quanex Building Products by 6.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,061 shares of the construction company's stock worth $228,000 after purchasing an additional 764 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Quanex Building Products by 199.9% during the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company's stock worth $33,000 after purchasing an additional 1,415 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Quanex Building Products by 15.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 11,335 shares of the construction company's stock worth $214,000 after purchasing an additional 1,481 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

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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