Quanex Building Products (NYSE:NX) Trading 4.5% Higher - Here's What Happened

Key Points

• Shares of Quanex Building Products Corporation increased by 4.5% during trading on Friday, reaching a high of $14.05 after closing at $13.49.
• Zacks Research downgraded the stock from a "hold" rating to a "strong sell," contributing to an average rating of "sell" from analysts.
• Despite low earnings per share of $0.69 for the last quarter, the company achieved a revenue of $495.27 million, slightly exceeding forecasts.

Shares of Quanex Building Products Corporation (NYSE:NX - Get Free Report) shot up 4.5% during trading on Friday . The stock traded as high as $14.05 and last traded at $14.09. 84,641 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 485,760 shares. The stock had previously closed at $13.49.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Quanex Building Products from a "hold" rating to a "strong sell" rating in a research note on Thursday, September 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of "Sell".

Quanex Building Products Stock Up 2.3%

The stock's fifty day simple moving average is $18.75 and its 200-day simple moving average is $18.45. The company has a current ratio of 2.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $633.37 million, a PE ratio of -2.22, a P/E/G ratio of 0.50 and a beta of 0.99.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The construction company reported $0.69 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.16). The company had revenue of $495.27 million during the quarter, compared to analysts' expectations of $491.65 million. Quanex Building Products had a positive return on equity of 10.48% and a negative net margin of 15.45%.During the same period last year, the firm posted $0.73 earnings per share. Quanex Building Products has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 16th. Quanex Building Products's dividend payout ratio is -5.14%.

Insider Buying and Selling at Quanex Building Products

In related news, Director Bradley E. Hughes acquired 6,500 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The shares were bought at an average cost of $15.27 per share, for a total transaction of $99,255.00. Following the completion of the transaction, the director owned 6,500 shares in the company, valued at approximately $99,255. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.15% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NX. CWM LLC grew its position in Quanex Building Products by 104.5% during the second quarter. CWM LLC now owns 1,468 shares of the construction company's stock valued at $28,000 after acquiring an additional 750 shares during the last quarter. Allworth Financial LP lifted its stake in Quanex Building Products by 17,191.7% in the second quarter. Allworth Financial LP now owns 2,075 shares of the construction company's stock worth $39,000 after acquiring an additional 2,063 shares during the period. GAMMA Investing LLC lifted its stake in Quanex Building Products by 106.5% in 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 during the period. Signaturefd LLC lifted its position in Quanex Building Products by 25,254.5% during the first quarter. Signaturefd LLC now owns 2,789 shares of the construction company's stock valued at $52,000 after buying an additional 2,778 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Quanex Building Products by 210.6% during the second quarter. Tower Research Capital LLC TRC now owns 5,138 shares of the construction company's stock valued at $97,000 after buying an additional 3,484 shares during the period. 97.48% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.