Quanex Building Products Co. (NYSE:NX) to Issue $0.08 Quarterly Dividend

Quanex Building Products Co. (NYSE:NX) declared a quarterly dividend on Friday, August 27th, Zacks reports. Investors of record on Thursday, September 16th will be given a dividend of 0.08 per share by the construction company on Thursday, September 30th. This represents a $0.32 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 15th.

Quanex Building Products has increased its dividend payment by 100.0% over the last three years and has raised its dividend annually for the last 1 consecutive years. Quanex Building Products has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Quanex Building Products to earn $1.96 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 16.3%.

Quanex Building Products stock opened at $22.02 on Tuesday. Quanex Building Products has a 1-year low of $17.09 and a 1-year high of $29.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.72 and a quick ratio of 1.06. The stock has a market cap of $738.15 million, a PE ratio of 12.51 and a beta of 1.66. The stock’s fifty day moving average is $23.66 and its two-hundred day moving average is $25.40.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Wednesday, September 1st. The construction company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). Quanex Building Products had a net margin of 5.62% and a return on equity of 15.58%. The business had revenue of $279.90 million during the quarter, compared to analyst estimates of $272.81 million. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. On average, research analysts expect that Quanex Building Products will post 1.64 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Quanex Building Products stock. Morgan Stanley lifted its position in shares of Quanex Building Products Co. (NYSE:NX) by 20.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 366,689 shares of the construction company’s stock after purchasing an additional 63,512 shares during the period. Morgan Stanley owned about 1.09% of Quanex Building Products worth $9,110,000 at the end of the most recent reporting period. Institutional investors own 96.16% of the company’s stock.

Separately, Zacks Investment Research cut Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Saturday.

About Quanex Building Products

Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. The firm operates through the following segments: North American Engineered Components, European Engineered Components, North American Cabinet Components, Unallocated Corporate and Other.

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Dividend History for Quanex Building Products (NYSE:NX)

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