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

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

A number of analysts have recently issued reports on NX shares. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Saturday.

Quanex Building Products Stock Down 2.4 %

The firm has a 50-day simple moving average of $29.62 and a two-hundred day simple moving average of $29.01. The stock has a market cap of $1.33 billion, a P/E ratio of 25.21, a PEG ratio of 0.89 and a beta of 1.24. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a return on equity of 14.06% and a net margin of 2.59%. During the same quarter in the prior year, the company earned $0.95 EPS. Equities research analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.13%. Quanex Building Products’s dividend payout ratio (DPR) is currently 28.57%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NX. Artemis Investment Management LLP acquired a new stake in shares of Quanex Building Products during the 3rd quarter valued at $15,343,000. State Street Corp raised its position in Quanex Building Products by 28.1% in the third quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after purchasing an additional 351,778 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Quanex Building Products by 37.9% during the third quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company’s stock valued at $28,894,000 after purchasing an additional 286,128 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Quanex Building Products during the second quarter worth about $6,263,000. Finally, Janus Henderson Group PLC increased its stake in shares of Quanex Building Products by 318.9% in the third quarter. Janus Henderson Group PLC now owns 232,428 shares of the construction company’s stock valued at $6,447,000 after buying an additional 176,949 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

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.