Quanex Building Products (NYSE:NX) Reaches New 52-Week Low - Here's What Happened

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Quanex Building Products from a "hold" rating to a "sell" rating in a report on Sunday, December 22nd.

Quanex Building Products Price Performance

The company has a market cap of $939.95 million, a PE ratio of 17.78, a P/E/G ratio of 0.66 and a beta of 1.28. The company has a quick ratio of 1.23, a current ratio of 2.24 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $25.20 and a 200 day simple moving average of $27.63.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping the consensus estimate 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 posted $0.95 EPS. Equities analysts expect that Quanex Building Products Co. will post 2.26 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Monday, December 16th. Quanex Building Products's dividend payout ratio (DPR) is currently 28.57%.

Insider Buying and Selling at Quanex Building Products

In other news, CEO George Laverne Wilson bought 4,328 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was purchased at an average price of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the purchase, the chief executive officer now owns 287,644 shares in the company, valued at approximately $6,624,441.32. This trade represents a 1.53 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.15% of the stock is owned by corporate insiders.

Institutional Trading of Quanex Building Products

Several institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund grew its stake in Quanex Building Products by 5.3% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,572 shares of the construction company's stock worth $620,000 after buying an additional 1,279 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Quanex Building Products by 11.9% during the fourth quarter. Bank of New York Mellon Corp now owns 437,848 shares of the construction company's stock worth $10,613,000 after acquiring an additional 46,635 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of Quanex Building Products in the 4th quarter valued at $8,187,000. New York State Common Retirement Fund raised its position in Quanex Building Products by 16.8% in the 4th quarter. New York State Common Retirement Fund now owns 13,178 shares of the construction company's stock valued at $319,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Quanex Building Products by 779.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,956,454 shares of the construction company's stock worth $47,424,000 after purchasing an additional 1,733,932 shares during the period. Hedge funds and other 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.