Quanex Building Products (NYSE:NX) Hits New 52-Week Low – What’s Next?

Quanex Building Products Co. (NYSE:NX) shares reached a new 52-week low during trading on Friday . The stock traded as low as $21.13 and last traded at $21.17, with a volume of 10841 shares. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Sunday, December 22nd.

Quanex Building Products Trading Down 3.4 %

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24. The firm has a market cap of $990.94 million, a P/E ratio of 18.74, a P/E/G ratio of 0.69 and a beta of 1.30. The firm has a 50 day simple moving average of $25.43 and a 200 day simple moving average of $27.73.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 11.79%. During the same period last year, the company earned $0.95 earnings per share. On average, equities research analysts predict that Quanex Building Products Co. will post 2.26 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products’s dividend payout ratio is 28.57%.

Insiders Place Their Bets

In related news, CEO George Laverne Wilson purchased 4,328 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the purchase, the chief executive officer now directly owns 287,644 shares in the company, valued at approximately $6,624,441.32. This represents a 1.53 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.15% of the company’s stock.

Institutional Trading of Quanex Building Products

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Quanex Building Products by 65.4% during the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares during the last quarter. Quarry LP lifted its position in Quanex Building Products by 150.8% in the 3rd quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after buying an additional 677 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Quanex Building Products in the third quarter worth approximately $37,000. Public Employees Retirement System of Ohio grew its position in Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock valued at $41,000 after acquiring an additional 605 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Quanex Building Products by 10,450.0% during the third quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock worth $59,000 after acquiring an additional 2,090 shares in the last quarter. 97.48% of the stock is owned by institutional investors.

About Quanex Building Products

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.