Quanex Building Products (NYSE:NX) Sees Strong Trading Volume

Quanex Building Products Co. (NYSE:NX) saw an uptick in trading volume on Tuesday . 173,287 shares were traded during trading, an increase of 11% from the previous session’s volume of 155,439 shares.The stock last traded at $34.31 and had previously closed at $33.69.

Wall Street Analyst Weigh In

Separately, Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Tuesday.

Quanex Building Products Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 2.27. The stock has a market capitalization of $1.15 billion, a PE ratio of 12.98, a PEG ratio of 1.03 and a beta of 1.35. The stock has a 50-day moving average price of $35.63 and a two-hundred day moving average price of $32.10.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. The company had revenue of $239.16 million for the quarter, compared to analysts’ expectations of $232.90 million. As a group, equities analysts forecast that Quanex Building Products Co. will post 2.4 earnings per share for the current year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. Quanex Building Products’s dividend payout ratio is presently 12.17%.

Insider Buying and Selling

In other news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $37.72, for a total transaction of $115,574.08. Following the sale, the senior vice president now directly owns 43,902 shares of the company’s stock, valued at approximately $1,655,983.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.15% of the stock is owned by insiders.

Institutional Trading of Quanex Building Products

Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Quanex Building Products by 46.6% during the 4th quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock valued at $24,208,000 after purchasing an additional 251,892 shares during the last quarter. American Century Companies Inc. increased its position in shares of Quanex Building Products by 19.1% during the 3rd quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock valued at $13,041,000 after purchasing an additional 74,297 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Quanex Building Products by 493.5% during the 4th quarter. Russell Investments Group Ltd. now owns 71,482 shares of the construction company’s stock valued at $2,185,000 after purchasing an additional 59,438 shares during the last quarter. Advisors Preferred LLC bought a new position in shares of Quanex Building Products during the 3rd quarter valued at approximately $1,376,000. Finally, Vanguard Group Inc. grew its position in Quanex Building Products by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock valued at $113,553,000 after acquiring an additional 30,198 shares during the last quarter. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.