Quanex Building Products (NYSE:NX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quanex Building Products (NYSE:NX) from a buy rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

Several other research analysts also recently commented on the company. Benchmark restated a “buy” rating on shares of Quanex Building Products in a report on Thursday, August 27th. Weiss Ratings upgraded shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Finally, Zacks Research upgraded shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Trading Up 5.3%

NYSE NX opened at $21.76 on Friday. The stock has a market cap of $997.26 million, a PE ratio of 21.98, a PEG ratio of 0.78 and a beta of 0.92. Quanex Building Products has a 12 month low of $11.04 and a 12 month high of $23.33. The company’s 50-day moving average price is $19.84 and its 200-day moving average price is $19.11. The company has a current ratio of 2.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85.

Quanex Building Products (NYSE:NX) last released its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.13. Quanex Building Products had a net margin of 2.43% and a return on equity of 11.61%. The company had revenue of $501.85 million during the quarter, compared to analysts’ expectations of $497.51 million. During the same period in the previous year, the company earned ($6.04) EPS. Equities research analysts forecast that Quanex Building Products will post 1.82 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 1.5%. Quanex Building Products’s dividend payout ratio (DPR) is presently 32.32%.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Quanex Building Products during the second quarter worth $136,089,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Quanex Building Products during the 1st quarter valued at $17,970,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Quanex Building Products by 961.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 592,785 shares of the construction company’s stock worth $10,652,000 after purchasing an additional 536,949 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Quanex Building Products in the 2nd quarter worth $9,501,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Quanex Building Products by 36.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock worth $31,296,000 after purchasing an additional 462,992 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation (NYSE: NX) is a manufacturer of components and systems used in the production of energy-efficient windows, doors, cabinets and other building products. The company primarily serves original equipment manufacturers and fabricators rather than selling finished construction products directly to consumers.

Its product portfolio includes insulating glass components, spacer systems, window and door profiles, screens, fenestration hardware, weather-sealing products, cabinet doors and drawer fronts.