Quanex Building Products (NYSE:NX) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Quanex Building Products Corporation shares have crossed above their 200-day moving average, closing at $20.80, indicating potential positive momentum in the stock.
• In its latest earnings report, Quanex beat analysts' expectations with $0.60 EPS, exceeding the consensus estimate of $0.48.
• The company recently declared a quarterly dividend of $0.08 per share, reflecting an annualized dividend yield of 1.5% and a dividend payout ratio of 54.24%.

Quanex Building Products Corporation (NYSE:NX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $19.03 and traded as high as $20.85. Quanex Building Products shares last traded at $20.80, with a volume of 324,011 shares.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Quanex Building Products to a "hold" rating in a research note on Monday, August 11th.

Quanex Building Products Stock Down 1.9%

The company has a current ratio of 2.41, a quick ratio of 1.26 and a debt-to-equity ratio of 0.75. The stock's 50-day moving average is $19.60 and its 200-day moving average is $19.01. The company has a market cap of $966.35 million, a price-to-earnings ratio of 35.63, a P/E/G ratio of 0.57 and a beta of 1.04.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.12. The business had revenue of $452.48 million during the quarter, compared to analyst estimates of $440.05 million. Quanex Building Products had a net margin of 1.05% and a return on equity of 10.02%. On average, analysts anticipate that Quanex Building Products Corporation will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a $0.08 dividend. The ex-dividend date was Monday, June 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.5%. Quanex Building Products's dividend payout ratio (DPR) is presently 54.24%.

Hedge Funds Weigh In On Quanex Building Products

Several large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Quanex Building Products by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 21,438 shares of the construction company's stock worth $399,000 after buying an additional 1,885 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Quanex Building Products by 106.5% during the first quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company's stock worth $49,000 after acquiring an additional 1,350 shares in the last quarter. Johnson Investment Counsel Inc. purchased a new position in shares of Quanex Building Products in the first quarter worth $190,000. GSA Capital Partners LLP increased its stake in shares of Quanex Building Products by 195.4% in the first quarter. GSA Capital Partners LLP now owns 55,313 shares of the construction company's stock worth $1,028,000 after buying an additional 36,586 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake 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 worth $298,000 after buying an additional 997 shares during the period. Hedge funds and other institutional investors own 97.48% of the company's stock.

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.