Benchmark Reaffirms “Buy” Rating for Quanex Building Products (NYSE:NX)

Benchmark reissued their buy rating on shares of Quanex Building Products (NYSE:NX) in a research note published on Tuesday morning, Benzinga reports. The firm currently has a $38.00 price target on the construction company’s stock.

Quanex Building Products Price Performance

Shares of NYSE:NX opened at $33.81 on Tuesday. Quanex Building Products has a one year low of $18.71 and a one year high of $39.31. The stock has a fifty day moving average of $35.68 and a 200-day moving average of $32.21. The company has a market capitalization of $1.12 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.00 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 2.27.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. The company had revenue of $239.16 million during the quarter, compared to the consensus estimate of $232.90 million. As a group, equities analysts anticipate that Quanex Building Products will post 2.4 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, March 14th. Quanex Building Products’s dividend payout ratio (DPR) is currently 12.17%.

Insider Buying and Selling at Quanex Building Products

In other news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total value of $115,574.08. Following the transaction, the senior vice president now directly owns 43,902 shares of the company’s stock, valued at $1,655,983.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.15% of the company’s stock.

Institutional Investors Weigh In On Quanex Building Products

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Quanex Building Products by 157.1% in the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after purchasing an additional 1,090 shares in the last quarter. Strs Ohio bought a new stake in Quanex Building Products in the third quarter worth $59,000. DekaBank Deutsche Girozentrale bought a new stake in Quanex Building Products in the third quarter worth $67,000. Quantbot Technologies LP bought a new stake in Quanex Building Products in the third quarter worth $83,000. Finally, Acadian Asset Management LLC bought a new stake in Quanex Building Products during the third quarter valued at about $112,000. 97.48% of the stock is currently owned by institutional investors.

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.