Quanex Building Products (NYSE:NX) Sees Large Volume Increase - Here's Why

Shares of Quanex Building Products Co. (NYSE:NX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,028,742 shares changed hands during mid-day trading, an increase of 189% from the previous session's volume of 356,333 shares.The stock last traded at $30.11 and had previously closed at $29.07.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NX shares. StockNews.com raised Quanex Building Products from a "hold" rating to a "buy" rating in a research note on Tuesday, October 8th. Benchmark reiterated a "buy" rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th.

Quanex Building Products Stock Performance

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26. The firm's 50 day moving average is $27.50 and its 200-day moving average is $30.47. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX - Get Free Report) last announced its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The firm had revenue of $280.35 million during the quarter, compared to analysts' expectations of $278.00 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts anticipate that Quanex Building Products Co. will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products's dividend payout ratio is currently 14.22%.

Institutional Trading of Quanex Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of NX. GAMMA Investing LLC raised its stake in shares of Quanex Building Products by 65.4% in the third quarter. GAMMA Investing LLC now owns 994 shares of the construction company's stock valued at $28,000 after purchasing an additional 393 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Quanex Building Products in the 2nd quarter valued at $46,000. nVerses Capital LLC lifted its holdings in shares of Quanex Building Products by 900.0% during the 2nd quarter. nVerses Capital LLC now owns 2,000 shares of the construction company's stock worth $55,000 after acquiring an additional 1,800 shares during the period. Quest Partners LLC boosted its holdings in Quanex Building Products by 9,011.1% during the second quarter. Quest Partners LLC now owns 3,280 shares of the construction company's stock valued at $91,000 after purchasing an additional 3,244 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Quanex Building Products in the 2nd quarter valued at $101,000. 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.

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