Quanex Building Products (NYSE:NX) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Quanex Building Products Co. (NYSE:NX - Get Free Report) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.99 and traded as high as $30.36. Quanex Building Products shares last traded at $30.14, with a volume of 171,362 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Benchmark reiterated a "buy" rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Quanex Building Products from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th.

Quanex Building Products Stock Performance

The company has a fifty day moving average of $28.06 and a two-hundred day moving average of $29.95. The stock has a market capitalization of $1.38 billion, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same period in the prior year, the company posted $0.97 EPS. On average, equities analysts anticipate that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, September 16th. This represents a $0.32 annualized dividend and a yield of 1.09%. Quanex Building Products's dividend payout ratio (DPR) is 14.22%.

Institutional Trading of Quanex Building Products

Several hedge funds have recently made changes to their positions in NX. Artemis Investment Management LLP bought a new stake in Quanex Building Products in the 3rd quarter valued at about $15,343,000. Hennessy Advisors Inc. bought a new stake in shares of Quanex Building Products during the second quarter valued at approximately $6,263,000. Pacer Advisors Inc. boosted its position in shares of Quanex Building Products by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company's stock worth $35,810,000 after buying an additional 165,121 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Quanex Building Products by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company's stock worth $92,902,000 after buying an additional 147,444 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Quanex Building Products by 13.5% in the 2nd quarter. American Century Companies Inc. now owns 807,464 shares of the construction company's stock worth $22,326,000 after buying an additional 96,095 shares in the last quarter. Institutional investors own 97.48% of the company's stock.

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.