Quanex Building Products (NYSE:NX) Shares Gap Up Following Better-Than-Expected Earnings
Quanex Building Products Co. (NYSE:NX – Get Rating)’s stock price gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.74, but opened at $22.55. Quanex Building Products shares last traded at $22.45, with a volume of 804 shares traded. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.37. Quanex Building Products had a return on equity of 14.80% and a net margin of 5.44%. During the same quarter in the previous year, the company posted $0.43 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be given a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.42%. Quanex Building Products’s dividend payout ratio is currently 17.78%.
A number of research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. StockNews.com began coverage on shares of Quanex Building Products in a research report on Thursday, March 31st. They issued a “buy” rating for the company.
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In related news, Director Susan F. Davis sold 5,987 shares of the company’s stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $23.02, for a total value of $137,820.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.43% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in Quanex Building Products by 63.1% during the first quarter. Captrust Financial Advisors now owns 2,316 shares of the construction company’s stock worth $49,000 after purchasing an additional 896 shares during the last quarter. Brinker Capital Investments LLC lifted its position in Quanex Building Products by 10.5% during the 1st quarter. Brinker Capital Investments LLC now owns 17,064 shares of the construction company’s stock worth $358,000 after buying an additional 1,626 shares in the last quarter. State Street Corp boosted its stake in shares of Quanex Building Products by 3.9% during the 1st quarter. State Street Corp now owns 1,195,937 shares of the construction company’s stock worth $25,103,000 after buying an additional 44,864 shares during the last quarter. Graham Capital Management L.P. grew its holdings in shares of Quanex Building Products by 164.5% in the 1st quarter. Graham Capital Management L.P. now owns 30,086 shares of the construction company’s stock valued at $631,000 after acquiring an additional 18,710 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Quanex Building Products by 4.0% in the first quarter. Invesco Ltd. now owns 240,325 shares of the construction company’s stock valued at $5,044,000 after acquiring an additional 9,138 shares during the last quarter. Institutional investors own 97.43% of the company’s stock.
The business has a 50-day simple moving average of $20.26 and a two-hundred day simple moving average of $22.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.98 and a quick ratio of 1.08. The stock has a market cap of $751.28 million, a price-to-earnings ratio of 12.38 and a beta of 1.48.
Quanex Building Products Company Profile (NYSE:NX)
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.
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