Quanex Building Products (NYSE:NX) Stock Price Up 6.4% - Here's What Happened

Quanex Building Products Co. (NYSE:NX - Get Free Report) shot up 6.4% during trading on Tuesday . The stock traded as high as $20.20 and last traded at $20.25. 351,797 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 508,800 shares. The stock had previously closed at $19.02.

Quanex Building Products Price Performance

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 stock's 50-day simple moving average is $17.33 and its two-hundred day simple moving average is $21.00. The company has a market capitalization of $940.73 million, a price-to-earnings ratio of 17.79, a PEG ratio of 0.68 and a beta of 1.01.

Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.12. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. The firm had revenue of $452.48 million during the quarter, compared to the consensus estimate of $440.05 million. Equities research analysts predict that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

Quanex Building Products Announces Dividend

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 paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Monday, June 16th. Quanex Building Products's dividend payout ratio (DPR) is 54.24%.

Institutional Investors Weigh In On Quanex Building Products

A number of large investors have recently made changes to their positions in the stock. Sterling Capital Management LLC increased its position in Quanex Building Products by 833.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company's stock worth $34,000 after purchasing an additional 1,267 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Quanex Building Products in the 4th quarter valued at approximately $44,000. GAMMA Investing LLC increased its holdings in shares of Quanex Building Products by 106.5% during the 1st quarter. GAMMA Investing LLC now owns 2,618 shares of the construction company's stock worth $49,000 after buying an additional 1,350 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Quanex Building Products by 25,254.5% during the 1st quarter. Signaturefd LLC now owns 2,789 shares of the construction company's stock worth $52,000 after buying an additional 2,778 shares during the last quarter. Finally, KBC Group NV raised its position in shares of Quanex Building Products by 69.8% during the 4th quarter. KBC Group NV now owns 2,843 shares of the construction company's stock valued at $69,000 after buying an additional 1,169 shares during the period. 97.48% of the stock is currently owned by hedge funds and other 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.