Quanex Building Products (NYSE:NX) Hits New 12-Month Low – Here’s What Happened

Quanex Building Products Co. (NYSE:NX) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.48 and last traded at $21.72, with a volume of 7633 shares trading hands. The stock had previously closed at $21.80.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Quanex Building Products from a “hold” rating to a “sell” rating in a report on Sunday, December 22nd.

Quanex Building Products Price Performance

The stock’s 50 day moving average is $27.48 and its two-hundred day moving average is $28.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $1.08 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, sell-side analysts forecast that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 28.57%.

Insider Buying and Selling at Quanex Building Products

In related news, CEO George Laverne Wilson purchased 4,328 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were bought at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the purchase, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.15% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its stake in Quanex Building Products by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock worth $92,902,000 after acquiring an additional 147,444 shares in the last quarter. State Street Corp increased its position in shares of Quanex Building Products by 28.1% during the third quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after purchasing an additional 351,778 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Quanex Building Products by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after purchasing an additional 165,121 shares during the last quarter. Segall Bryant & Hamill LLC boosted its position in shares of Quanex Building Products by 0.5% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock valued at $33,363,000 after purchasing an additional 6,566 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Quanex Building Products by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock valued at $32,058,000 after purchasing an additional 3,400 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.