Quanex Building Products (NYSE:NX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Quanex Building Products (NYSE:NX) released its quarterly earnings data on Thursday. The construction company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.04, FiscalAI reports. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.The business had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million.

Quanex Building Products Trading Down 4.1%

Shares of Quanex Building Products stock traded down $0.81 on Thursday, hitting $18.86. 776,621 shares of the company’s stock traded hands, compared to its average volume of 563,901. The company has a fifty day moving average of $19.09 and a two-hundred day moving average of $16.60. Quanex Building Products has a one year low of $11.04 and a one year high of $22.98. The company has a market capitalization of $866.43 million, a price-to-earnings ratio of -3.44, a price-to-earnings-growth ratio of 0.66 and a beta of 0.91. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.04 and a quick ratio of 1.14.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, March 17th. Quanex Building Products’s payout ratio is currently -5.83%.

Insiders Place Their Bets

In other Quanex Building Products news, insider Teleios Capital Partners Gmbh sold 119,485 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 4,421,879 shares of the company’s stock, valued at approximately $70,484,751.26. The trade was a 2.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.92% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Quanex Building Products by 22.6% during the first quarter. Royal Bank of Canada now owns 25,578 shares of the construction company’s stock worth $476,000 after purchasing an additional 4,720 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Quanex Building Products by 9.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,051 shares of the construction company’s stock worth $521,000 after buying an additional 2,347 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Quanex Building Products by 25.4% in the first quarter. Goldman Sachs Group Inc. now owns 246,666 shares of the construction company’s stock valued at $4,586,000 after buying an additional 49,895 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Quanex Building Products by 887.4% during the first quarter. Jane Street Group LLC now owns 84,957 shares of the construction company’s stock valued at $1,579,000 after buying an additional 76,353 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Quanex Building Products by 8.0% during the second quarter. Sei Investments Co. now owns 72,103 shares of the construction company’s stock worth $1,363,000 after acquiring an additional 5,313 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Analyst Upgrades and Downgrades

NX has been the subject of several research reports. Benchmark dropped their price objective on shares of Quanex Building Products from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, December 15th. Wall Street Zen upgraded Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.