Quanex Building Products Co. (NYSE:NX) Plans Quarterly Dividend of $0.08

Quanex Building Products Co. (NYSE:NX) declared a quarterly dividend on Tuesday, June 4th, NASDAQ reports. Shareholders of record on Friday, June 14th will be paid a dividend of 0.08 per share by the construction company on Friday, June 28th. This represents a $0.32 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, June 13th.

Quanex Building Products has increased its dividend by an average of 14.5% per year over the last three years. Quanex Building Products has a dividend payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Quanex Building Products to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 34.0%.

Quanex Building Products stock traded down $0.29 during mid-day trading on Friday, hitting $16.70. The company’s stock had a trading volume of 146,320 shares, compared to its average volume of 126,939. The company has a market capitalization of $562.73 million, a PE ratio of 25.69 and a beta of 1.08. The company has a quick ratio of 1.35, a current ratio of 2.32 and a debt-to-equity ratio of 0.62. Quanex Building Products has a one year low of $10.70 and a one year high of $19.85.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Tuesday, June 4th. The construction company reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.07. The company had revenue of $218.00 million for the quarter, compared to the consensus estimate of $219.53 million. Quanex Building Products had a positive return on equity of 5.90% and a negative net margin of 1.15%. Quanex Building Products’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, research analysts anticipate that Quanex Building Products will post 0.83 earnings per share for the current year.

NX has been the topic of a number of recent research reports. Seaport Global Securities initiated coverage on Quanex Building Products in a research report on Friday, March 15th. They set a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research raised Quanex Building Products from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Quanex Building Products currently has a consensus rating of “Buy” and a consensus target price of $18.00.

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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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Dividend History for Quanex Building Products (NYSE:NX)

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