Quanex Building Products (NYSE:NX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a strong-buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on NX. Weiss Ratings raised shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Benchmark reaffirmed a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Quanex Building Products presently has a consensus rating of “Hold” and an average price target of $28.00.

Quanex Building Products Stock Performance

Shares of Quanex Building Products stock opened at $21.04 on Friday. The company has a market capitalization of $964.18 million, a PE ratio of 21.25, a P/E/G ratio of 0.85 and a beta of 0.94. The company has a 50-day simple moving average of $19.57 and a two-hundred day simple moving average of $18.73. Quanex Building Products has a one year low of $11.04 and a one year high of $23.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 2.23.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, September 3rd. The construction company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.13. Quanex Building Products had a net margin of 2.43% and a return on equity of 11.61%. The business had revenue of $501.85 million for the quarter, compared to analysts’ expectations of $497.51 million. During the same period last year, the business earned ($6.04) EPS. Research analysts expect that Quanex Building Products will post 1.82 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Quanex Building Products’s dividend payout ratio (DPR) is currently 32.32%.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds have recently modified their holdings of NX. Integrated Wealth Concepts LLC acquired a new stake in Quanex Building Products in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its stake in shares of Quanex Building Products by 199.9% during the fourth quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock worth $33,000 after buying an additional 1,415 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Quanex Building Products during the fourth quarter valued at $35,000. Public Employees Retirement System of Ohio acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $36,000. Finally, Allworth Financial LP purchased a new position in Quanex Building Products in the 2nd quarter worth $51,000. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation (NYSE:NX) manufactures components and systems used in the fenestration and cabinet industries. Its products are incorporated into residential and commercial windows, doors, and related building products rather than typically sold directly to consumers.

The company’s product portfolio includes insulating glass components, window and door screens, vinyl profiles, hardware, sealing and weatherstripping products, and other engineered components used by window and door manufacturers.