Insider Buying: Quanex Building Products Co. (NYSE:NX) CFO Purchases 435 Shares of Stock

Quanex Building Products Co. (NYSE:NX) CFO Scott M. Zuehlke bought 435 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $23.10 per share, for a total transaction of $10,048.50. Following the transaction, the chief financial officer now owns 74,297 shares of the company’s stock, valued at $1,716,260.70. The trade was a 0.59 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Quanex Building Products Stock Performance

Shares of NX stock opened at $23.13 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. Quanex Building Products Co. has a one year low of $22.92 and a one year high of $39.31. The company has a 50 day moving average price of $29.43 and a 200 day moving average price of $28.85.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same quarter in the previous year, the firm posted $0.95 earnings per share. Sell-side analysts anticipate that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.38%. Quanex Building Products’s dividend payout ratio is presently 28.57%.

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in Quanex Building Products by 28.8% during the 3rd quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock worth $6,175,000 after purchasing an additional 49,716 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Quanex Building Products by 6.4% in the third quarter. Franklin Resources Inc. now owns 19,203 shares of the construction company’s stock worth $562,000 after acquiring an additional 1,150 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after acquiring an additional 286,128 shares during the period. Vestcor Inc lifted its holdings in shares of Quanex Building Products by 720.3% during the 3rd quarter. Vestcor Inc now owns 19,360 shares of the construction company’s stock valued at $537,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Barclays PLC boosted its position in Quanex Building Products by 391.4% during the 3rd quarter. Barclays PLC now owns 83,794 shares of the construction company’s stock worth $2,325,000 after purchasing an additional 66,742 shares during the period. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NX has been the topic of several analyst reports. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, December 14th. Benchmark reissued a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th.

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.