Quanex Building Products (NYSE:NX) Trading Down 4% - Here's Why

Quanex Building Products Co. (NYSE:NX - Get Free Report) fell 4% during trading on Monday . The company traded as low as $26.81 and last traded at $27.01. 110,690 shares were traded during mid-day trading, a decline of 69% from the average session volume of 358,516 shares. The stock had previously closed at $28.15.

Analysts Set New Price Targets

A number of brokerages have recently commented on NX. StockNews.com cut shares of Quanex Building Products from a "buy" rating to a "hold" rating in a research report on Saturday. Benchmark reaffirmed a "buy" rating and issued a $38.00 target price on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Trading Down 1.3 %

The business's 50-day moving average price is $29.62 and its 200-day moving average price is $28.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $1.31 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24.

Quanex Building Products (NYSE:NX - Get Free Report) last issued its earnings results 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 14.06%. During the same quarter last year, the company posted $0.95 EPS. As a group, analysts expect that Quanex Building Products Co. will post 2.26 earnings per share for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. Quanex Building Products's dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company's stock worth $28,000 after purchasing an additional 393 shares in the last quarter. Quarry LP lifted its stake in Quanex Building Products by 150.8% in the third quarter. Quarry LP now owns 1,126 shares of the construction company's stock valued at $31,000 after buying an additional 677 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Quanex Building Products in the third quarter valued at $37,000. Public Employees Retirement System of Ohio increased its holdings in shares of Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company's stock valued at $41,000 after purchasing an additional 605 shares during the period. Finally, Innealta Capital LLC acquired a new position in Quanex Building Products during the second quarter worth about $46,000. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

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.