Quanex Building Products (NYSE:NX) Trading Up 6.5% – Here’s What Happened

Quanex Building Products Co. (NYSE:NX)’s stock price traded up 6.5% during mid-day trading on Thursday . The stock traded as high as $21.99 and last traded at $21.90. 74,219 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 355,169 shares. The stock had previously closed at $20.56.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd.

Quanex Building Products Stock Down 3.0 %

The firm’s 50-day simple moving average is $24.51 and its two-hundred day simple moving average is $27.39. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.24 and a quick ratio of 1.23. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 0.70 and a beta of 1.28.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 11.79% and a net margin of 2.59%. During the same period in the previous year, the company posted $0.95 EPS. Sell-side analysts predict that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Insider Activity at Quanex Building Products

In related news, CEO George Laverne Wilson acquired 4,328 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the transaction, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.15% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently bought and sold shares of NX. GAMMA Investing LLC raised its position 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 valued at $28,000 after buying an additional 393 shares during the last quarter. Quarry LP grew its stake in Quanex Building Products by 150.8% in 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 during the period. Point72 Hong Kong Ltd acquired a new position in Quanex Building Products in the 3rd quarter valued at $37,000. Public Employees Retirement System of Ohio lifted its stake in shares of Quanex Building Products by 69.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after purchasing an additional 605 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after purchasing an additional 2,090 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

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.