Quanex Building Products (NYSE:NX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Quanex Building Products (NYSE:NX - Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday.

Separately, Benchmark restated a buy rating and issued a $38.00 price target on shares of Quanex Building Products in a research note on Tuesday, April 23rd.

Quanex Building Products Stock Performance

Shares of NYSE NX traded down $0.16 during trading on Friday, reaching $28.70. 645,498 shares of the company traded hands, compared to its average volume of 218,992. The firm's fifty day simple moving average is $32.65 and its 200 day simple moving average is $33.17. The stock has a market cap of $950.26 million, a P/E ratio of 11.76, a PEG ratio of 0.88 and a beta of 1.36. Quanex Building Products has a 12-month low of $24.97 and a 12-month high of $39.31. The company has a current ratio of 2.22, a quick ratio of 1.37 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings data on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.53 by $0.13. The business had revenue of $266.20 million during the quarter, compared to analyst estimates of $268.80 million. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. During the same quarter last year, the business posted $0.66 EPS. As a group, research analysts anticipate that Quanex Building Products will post 2.33 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Friday, June 14th. Quanex Building Products's dividend payout ratio is presently 13.11%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Quanex Building Products by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company's stock worth $113,553,000 after purchasing an additional 30,198 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Quanex Building Products by 46.6% during the fourth quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company's stock worth $24,208,000 after purchasing an additional 251,892 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Quanex Building Products by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,581 shares of the construction company's stock worth $15,578,000 after purchasing an additional 9,172 shares in the last quarter. American Century Companies Inc. increased its position in shares of Quanex Building Products by 19.1% during the third quarter. American Century Companies Inc. now owns 462,937 shares of the construction company's stock worth $13,041,000 after acquiring an additional 74,297 shares during the period. Finally, Invesco Ltd. increased its position in shares of Quanex Building Products by 3.1% during the third quarter. Invesco Ltd. now owns 327,436 shares of the construction company's stock worth $9,224,000 after acquiring an additional 9,875 shares during the period. 97.48% of the stock is currently owned by institutional investors and hedge funds.

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.