Quanex Building Products (NYSE:NX) Trading 8.6% Higher - Should You Buy?

Quanex Building Products Corporation (NYSE:NX - Get Free Report) was up 8.6% on Tuesday . The stock traded as high as $20.59 and last traded at $20.52. Approximately 211,043 shares traded hands during trading, a decline of 59% from the average daily volume of 520,956 shares. The stock had previously closed at $18.90.

Quanex Building Products Stock Down 2.3%

The company has a market cap of $942.84 million, a P/E ratio of 34.76, a PEG ratio of 0.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.41 and a quick ratio of 1.26. The business's 50 day moving average price is $18.17 and its 200-day moving average price is $19.88.

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

Quanex Building Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.32 annualized dividend and a yield of 1.56%. Quanex Building Products's dividend payout ratio is currently 54.24%.

Hedge Funds Weigh In On Quanex Building Products

Several large investors have recently bought and sold shares of NX. Deprince Race & Zollo Inc. boosted its position in shares of Quanex Building Products by 716.4% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,111,464 shares of the construction company's stock worth $26,942,000 after purchasing an additional 975,324 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Quanex Building Products by 442.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 891,457 shares of the construction company's stock valued at $21,609,000 after purchasing an additional 727,125 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Quanex Building Products by 29.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,988,029 shares of the construction company's stock valued at $48,190,000 after buying an additional 449,646 shares in the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Quanex Building Products by 31.1% during the 1st quarter. Segall Bryant & Hamill LLC now owns 1,367,758 shares of the construction company's stock worth $25,427,000 after purchasing an additional 324,548 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Quanex Building Products in the first quarter valued at approximately $3,413,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.