Quanex Building Products (NYSE:NX) Sets New 52-Week Low - Here's Why

Shares of Quanex Building Products Co. (NYSE:NX - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $18.14 and last traded at $18.66, with a volume of 482357 shares traded. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

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

Quanex Building Products Trading Up 1.2 %

The firm's 50-day simple moving average is $22.04 and its 200 day simple moving average is $26.19. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.24 and a quick ratio of 1.23. The firm has a market capitalization of $953.15 million, a price-to-earnings ratio of 18.03, a P/E/G ratio of 0.68 and a beta of 1.33.

Quanex Building Products (NYSE:NX - Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share 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 in the prior year, the company posted $0.95 EPS. Equities analysts expect that Quanex Building Products Co. will post 2.18 earnings per share for the current year.

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Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, March 17th. Quanex Building Products's dividend payout ratio (DPR) is currently 28.57%.

Insider Activity

In other Quanex Building Products news, CEO George Laverne Wilson acquired 4,328 shares of Quanex Building Products stock in a transaction that occurred on Thursday, December 19th. The shares were bought at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the purchase, the chief executive officer now directly owns 287,644 shares in the company, valued at $6,624,441.32. This trade represents a 1.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 2.15% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quanex Building Products

Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its holdings in Quanex Building Products by 4.1% in the third quarter. New York State Teachers Retirement System now owns 71,396 shares of the construction company's stock valued at $1,981,000 after acquiring an additional 2,841 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Quanex Building Products by 10,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company's stock valued at $59,000 after purchasing an additional 2,090 shares during the last quarter. Amalgamated Bank increased its position in shares of Quanex Building Products by 34.4% during the third quarter. Amalgamated Bank now owns 13,535 shares of the construction company's stock worth $376,000 after buying an additional 3,468 shares during the period. Principal Financial Group Inc. raised its stake in Quanex Building Products by 28.8% during the third quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company's stock worth $6,175,000 after buying an additional 49,716 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Quanex Building Products by 22.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 69,211 shares of the construction company's stock valued at $1,921,000 after buying an additional 12,895 shares during the period. 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.