Quanex Building Products (NYSE:NX) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Quanex Building Products (NYSE:NX) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Quanex Building Products in a research report on Thursday, January 22nd. Wall Street Zen lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $28.00.

Quanex Building Products Trading Down 0.0%

Shares of Quanex Building Products stock traded down $0.01 during trading hours on Monday, reaching $20.45. 25,053 shares of the company’s stock were exchanged, compared to its average volume of 557,070. Quanex Building Products has a 52-week low of $11.04 and a 52-week high of $22.98. The firm has a market capitalization of $939.27 million, a price-to-earnings ratio of -3.89, a price-to-earnings-growth ratio of 0.76 and a beta of 0.93. The company has a fifty day moving average of $19.23 and a 200-day moving average of $16.79. The company has a current ratio of 2.31, a quick ratio of 1.21 and a debt-to-equity ratio of 0.93.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, March 5th. The construction company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The company had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%. Sell-side analysts forecast that Quanex Building Products will post 1.96 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, March 17th. Quanex Building Products’s dividend payout ratio is currently -6.08%.

Institutional Trading of Quanex Building Products

Several large investors have recently added to or reduced their stakes in NX. Danske Bank A S acquired a new stake in Quanex Building Products in the 3rd quarter valued at $26,000. Hantz Financial Services Inc. increased its holdings in Quanex Building Products by 199.9% in the 4th quarter. Hantz Financial Services Inc. now owns 2,123 shares of the construction company’s stock valued at $33,000 after purchasing an additional 1,415 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Quanex Building Products in the 4th quarter valued at $35,000. Meeder Asset Management Inc. acquired a new stake in Quanex Building Products in the 4th quarter valued at $42,000. Finally, Quarry LP increased its holdings in Quanex Building Products by 132.0% in the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after purchasing an additional 2,136 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.