Quanex Building Products (NYSE:NX) Shares Gap Down – Here’s What Happened

Shares of Quanex Building Products Co. (NYSE:NX) gapped down before the market opened on Friday . The stock had previously closed at $28.91, but opened at $26.99. Quanex Building Products shares last traded at $28.00, with a volume of 205,398 shares traded.

Analyst Ratings Changes

NX has been the subject of a number of analyst reports. StockNews.com upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research note on Friday, December 6th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Stock Down 2.9 %

The firm’s 50 day simple moving average is $29.60 and its 200-day simple moving average is $29.06. 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 company has a market cap of $1.33 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 0.93 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the previous year, the company earned $0.95 earnings per share. As a group, sell-side analysts anticipate that Quanex Building Products Co. will post 2.1 earnings per share for the current year.

Quanex Building Products Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.14%. Quanex Building Products’s payout ratio is currently 14.22%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the period. SummerHaven Investment Management LLC grew its position in Quanex Building Products by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock worth $787,000 after buying an additional 474 shares during the period. Public Employees Retirement System of Ohio grew its position in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after buying an additional 605 shares during the period. Quarry LP grew its position in shares of Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock valued at $31,000 after purchasing an additional 677 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Quanex Building Products by 3.4% in the second quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock valued at $669,000 after purchasing an additional 800 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, 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.