Quanex Building Products (NYSE:NX) Trading Up 4.9% on Insider Buying Activity

Shares of Quanex Building Products Co. (NYSE:NX) rose 4.9% during trading on Friday following insider buying activity. The stock traded as high as $24.53 and last traded at $24.26. Approximately 98,020 shares traded hands during trading, a decline of 73% from the average daily volume of 368,616 shares. The stock had previously closed at $23.13.

Specifically, CEO George Laverne Wilson purchased 4,328 shares of Quanex Building Products stock in a transaction on Thursday, December 19th. The shares were purchased at an average cost of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now directly owns 287,644 shares in the company, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

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

Quanex Building Products Trading Up 5.0 %

The firm has a market capitalization of $1.15 billion, a PE ratio of 21.68, a P/E/G ratio of 0.89 and a beta of 1.24. The firm has a fifty day moving average of $29.43 and a 200 day moving average of $28.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $0.95 EPS. Equities research analysts expect that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.32%. Quanex Building Products’s payout ratio is currently 28.57%.

Institutional Trading of Quanex Building Products

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Quarry LP grew its holdings in Quanex Building Products by 150.8% during the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Quanex Building Products in the 3rd quarter worth about $37,000. Public Employees Retirement System of Ohio raised its stake in shares of Quanex Building Products by 69.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after purchasing an additional 605 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Quanex Building Products during the second quarter worth about $46,000. 97.48% of the stock is 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.