Quanex Building Products Corporation (NYSE:NX) Sees Significant Drop in Short Interest

Quanex Building Products Corporation (NYSE:NX) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 2,100,051 shares, a drop of 30.3% from the December 15th total of 3,014,034 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily volume of 1,003,906 shares, the short-interest ratio is currently 2.1 days. Based on an average daily volume of 1,003,906 shares, the short-interest ratio is currently 2.1 days. Approximately 4.7% of the company’s shares are short sold.

Insider Buying and Selling at Quanex Building Products

In related news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90. Following the completion of the sale, the insider directly owned 4,421,879 shares in the company, valued at $70,484,751.26. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Danske Bank A S acquired a new position in shares of Quanex Building Products during the third quarter valued at about $26,000. CWM LLC grew its position in Quanex Building Products by 104.5% during the 2nd quarter. CWM LLC now owns 1,468 shares of the construction company’s stock worth $28,000 after purchasing an additional 750 shares during the last quarter. Allworth Financial LP increased its stake in Quanex Building Products by 17,191.7% during the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock valued at $39,000 after purchasing an additional 2,063 shares in the last quarter. Quarry LP raised its holdings in shares of Quanex Building Products by 132.0% in the third quarter. Quarry LP now owns 3,754 shares of the construction company’s stock worth $53,000 after buying an additional 2,136 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in shares of Quanex Building Products during the third quarter worth $72,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Stock Up 0.7%

NX traded up $0.12 on Monday, hitting $18.69. The company had a trading volume of 729,477 shares, compared to its average volume of 572,624. The stock has a fifty day moving average price of $14.80 and a 200-day moving average price of $16.43. Quanex Building Products has a 12-month low of $11.04 and a 12-month high of $24.79. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.14 and a current ratio of 2.04. The stock has a market capitalization of $853.75 million, a price-to-earnings ratio of -3.41, a P/E/G ratio of 0.64 and a beta of 0.93.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.50 by $0.33. Quanex Building Products had a negative net margin of 13.65% and a positive return on equity of 12.46%. The business had revenue of $489.85 million during the quarter, compared to analyst estimates of $472.62 million. During the same period in the prior year, the firm posted $0.61 earnings per share. Analysts predict that Quanex Building Products will post 2.18 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. Quanex Building Products’s dividend payout ratio (DPR) is presently -5.83%.

Wall Street Analyst Weigh In

NX has been the subject of several research reports. Zacks Research upgraded Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday, November 10th. Wall Street Zen upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Benchmark dropped their target price on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, December 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Quanex Building Products in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.00.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.