Insider Selling: Quanex Building Products Co. (NX) Director Sells 10,421 Shares of Stock
Quanex Building Products Co. (NYSE:NX) Director Susan F. Davis sold 10,421 shares of Quanex Building Products stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $22.47, for a total transaction of $234,159.87. Following the sale, the director now owns 35,603 shares of the company’s stock, valued at $799,999.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Quanex Building Products Co. (NX) traded up $0.20 during trading on Friday, reaching $22.60. 144,700 shares of the company were exchanged, compared to its average volume of 152,800. Quanex Building Products Co. has a 52-week low of $17.45 and a 52-week high of $24.60. The stock has a market capitalization of $785.87, a P/E ratio of 42.64 and a beta of 0.70. The company has a current ratio of 1.80, a quick ratio of 0.98 and a debt-to-equity ratio of 0.54.
Quanex Building Products (NYSE:NX) last released its earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. The firm had revenue of $233.00 million during the quarter, compared to the consensus estimate of $232.47 million. During the same period in the previous year, the firm earned $0.45 earnings per share. Quanex Building Products’s revenue was down 6.5% compared to the same quarter last year. analysts anticipate that Quanex Building Products Co. will post 0.9 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.16 dividend on an annualized basis and a yield of 0.71%. Quanex Building Products’s payout ratio is 30.19%.
Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its holdings in Quanex Building Products by 36.5% in the second quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock valued at $229,000 after purchasing an additional 2,895 shares during the period. Wolverine Trading LLC purchased a new stake in Quanex Building Products during the third quarter worth approximately $231,000. Trexquant Investment LP purchased a new stake in Quanex Building Products during the third quarter worth approximately $271,000. Municipal Employees Retirement System of Michigan grew its stake in Quanex Building Products by 59.1% during the third quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock worth $297,000 after buying an additional 4,800 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new stake in Quanex Building Products during the third quarter worth approximately $299,000. Hedge funds and other institutional investors own 99.80% of the company’s stock.
A number of research firms recently issued reports on NX. Zacks Investment Research downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Wedbush downgraded shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a report on Monday, December 18th. Finally, KeyCorp restated a “hold” rating on shares of Quanex Building Products in a report on Friday, September 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.00.
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About Quanex Building Products
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