Zacks Investment Research upgraded shares of Quanex Building Products (NYSE:NX) from a hold rating to a strong-buy rating in a report released on Friday, Zacks.com reports. The firm currently has $21.00 target price on the construction company’s stock.

According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “

NYSE:NX opened at $19.06 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.15 and a quick ratio of 1.17. The firm has a market capitalization of $641.31 million, a price-to-earnings ratio of 29.32 and a beta of 1.22. Quanex Building Products has a one year low of $10.70 and a one year high of $19.55. The business has a fifty day moving average price of $17.63 and a 200-day moving average price of $17.05.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.36 by $0.05. The firm had revenue of $238.50 million during the quarter, compared to analyst estimates of $245.73 million. Quanex Building Products had a positive return on equity of 6.69% and a negative net margin of 1.03%. Quanex Building Products’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. On average, equities research analysts expect that Quanex Building Products will post 0.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.08 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 1.68%. Quanex Building Products’s payout ratio is presently 49.23%.

In other Quanex Building Products news, Director Susan F. Davis sold 5,489 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.10, for a total value of $99,350.90. Following the completion of the sale, the director now owns 30,671 shares in the company, valued at approximately $555,145.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.98% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in Quanex Building Products by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,967,331 shares of the construction company’s stock worth $40,326,000 after buying an additional 20,474 shares in the last quarter. Investment Counselors of Maryland LLC increased its stake in Quanex Building Products by 0.7% in the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,134,272 shares of the construction company’s stock worth $21,426,000 after buying an additional 7,605 shares in the last quarter. Renaissance Technologies LLC increased its stake in Quanex Building Products by 9.5% in the 2nd quarter. Renaissance Technologies LLC now owns 868,200 shares of the construction company’s stock worth $16,400,000 after buying an additional 75,600 shares in the last quarter. Morgan Stanley increased its stake in Quanex Building Products by 166.7% in the 2nd quarter. Morgan Stanley now owns 538,981 shares of the construction company’s stock worth $10,181,000 after buying an additional 336,892 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Quanex Building Products in the 2nd quarter worth $4,938,000. Institutional investors and hedge funds own 99.16% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.

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