Quanex Building Products (NYSE:NX) Trading Down 9.1% – Here’s What Happened

Shares of Quanex Building Products Corporation (NYSE:NX) were down 9.1% during trading on Friday . The company traded as low as $17.14 and last traded at $17.4050. Approximately 118,223 shares traded hands during trading, a decline of 77% from the average daily volume of 507,486 shares. The stock had previously closed at $19.14.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NX shares. Wall Street Zen downgraded Quanex Building Products from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research downgraded Quanex Building Products from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $28.00.

Quanex Building Products Trading Down 10.6%

The stock has a market capitalization of $785.63 million, a price-to-earnings ratio of -3.25, a P/E/G ratio of 0.70 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.21 and a current ratio of 2.31. The firm has a fifty day moving average of $18.74 and a 200-day moving average of $17.36.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.04. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%.The firm had revenue of $409.09 million during the quarter, compared to the consensus estimate of $405.75 million. As a group, equities analysts predict that Quanex Building Products Corporation will post 1.96 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.9%. The ex-dividend date was Tuesday, March 17th. Quanex Building Products’s dividend payout ratio is currently -6.08%.

Institutional Trading of Quanex Building Products

Several large investors have recently added to or reduced their stakes in NX. Ameriprise Financial Inc. boosted its position in Quanex Building Products by 7.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after buying an additional 166,518 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in Quanex Building Products by 8.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,874,353 shares of the construction company’s stock valued at $28,828,000 after buying an additional 139,036 shares during the last quarter. Systematic Financial Management LP boosted its position in Quanex Building Products by 10.3% in the 4th quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company’s stock valued at $27,280,000 after buying an additional 165,424 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Quanex Building Products by 36.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock valued at $31,296,000 after buying an additional 462,992 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Quanex Building Products by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,099,557 shares of the construction company’s stock valued at $16,914,000 after buying an additional 4,976 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.