Quanex Building Products Co. (NYSE:NX) Sees Large Growth in Short Interest

Quanex Building Products Co. (NYSE:NX - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,900,000 shares, an increase of 21.3% from the February 28th total of 2,390,000 shares. Based on an average daily trading volume, of 540,500 shares, the days-to-cover ratio is currently 5.4 days. Currently, 6.3% of the company's stock are sold short.

Quanex Building Products Stock Performance

Shares of NX traded down $0.59 during trading hours on Monday, reaching $17.01. 995,776 shares of the company traded hands, compared to its average volume of 471,039. The stock has a market capitalization of $803.03 million, a P/E ratio of 15.19, a P/E/G ratio of 0.68 and a beta of 1.08. 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 business has a fifty day moving average price of $20.30 and a 200-day moving average price of $24.97. Quanex Building Products has a 12-month low of $15.53 and a 12-month high of $38.98.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Monday, March 17th. Quanex Building Products's dividend payout ratio (DPR) is 52.46%.

Analyst Ratings Changes

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

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Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of NX. JPMorgan Chase & Co. increased its stake in shares of Quanex Building Products by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 318,044 shares of the construction company's stock worth $8,826,000 after acquiring an additional 74,396 shares during the period. Principal Financial Group Inc. raised its stake in shares of Quanex Building Products by 28.8% during the 3rd quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company's stock valued at $6,175,000 after buying an additional 49,716 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Quanex Building Products by 37.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,040,987 shares of the construction company's stock valued at $28,894,000 after buying an additional 286,128 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Quanex Building Products by 26.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 669,270 shares of the construction company's stock worth $18,572,000 after buying an additional 139,208 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new position in Quanex Building Products during the fourth quarter valued at approximately $25,380,000. Institutional investors and hedge funds own 97.48% of the company's stock.

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.