Quanex Building Products (NYSE:NX) Shares Up 4.4% - Should You Buy?

Quanex Building Products Co. (NYSE:NX - Get Free Report)'s stock price rose 4.4% during mid-day trading on Friday . The stock traded as high as $17.45 and last traded at $17.36. Approximately 545,945 shares changed hands during trading, an increase of 17% from the average daily volume of 465,495 shares. The stock had previously closed at $16.62.

Analysts Set New Price Targets

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

Quanex Building Products Price Performance

The stock's 50 day simple moving average is $19.81 and its 200-day simple moving average is $24.63. The firm has a market cap of $864.87 million, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 2.24.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Monday, March 17th. Quanex Building Products's dividend payout ratio is presently 52.46%.

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Institutional Trading of Quanex Building Products

Large investors have recently made changes to their positions in the business. Quarry LP boosted its holdings 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 purchasing an additional 677 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Quanex Building Products by 833.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,419 shares of the construction company's stock worth $34,000 after buying an additional 1,267 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in 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 worth $41,000 after acquiring an additional 605 shares during the period. Federated Hermes Inc. purchased a new position in Quanex Building Products during the fourth quarter valued at approximately $44,000. Finally, KBC Group NV lifted its holdings in Quanex Building Products by 69.8% in the fourth quarter. KBC Group NV now owns 2,843 shares of the construction company's stock valued at $69,000 after acquiring an additional 1,169 shares during the period. 97.48% of the stock is 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.