Quanex Building Products (NYSE:NX) Trading Down 9.1% – Here’s What Happened

Quanex Building Products Corporation (NYSE:NX)’s share price dropped 9.1% during mid-day trading on Friday . The stock traded as low as $17.14 and last traded at $17.4050. Approximately 118,223 shares were traded during trading, a decline of 77% from the average daily volume of 507,486 shares. The stock had previously closed at $19.14.

Wall Street Analyst Weigh In

NX has been the subject of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Quanex Building Products in a research report on Tuesday, April 21st. Zacks Research downgraded Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $28.00.

Quanex Building Products Trading Down 10.6%

The company has a market cap of $785.63 million, a PE ratio of -3.25, a price-to-earnings-growth ratio of 0.70 and a beta of 0.95. The business has a 50 day simple moving average of $18.74 and a two-hundred day simple moving average of $17.36. 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. Quanex Building Products had a positive return on equity of 12.24% and a negative net margin of 13.00%.The company had revenue of $409.09 million for the quarter, compared to analyst estimates of $405.75 million. On average, analysts forecast that Quanex Building Products Corporation will post 1.96 EPS for the current fiscal year.

Quanex Building Products Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, March 17th. Quanex Building Products’s dividend payout ratio is currently -6.08%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Quanex Building Products during the 1st quarter worth $17,970,000. Renaissance Technologies LLC increased its holdings in shares of Quanex Building Products by 1.2% during the 1st quarter. Renaissance Technologies LLC now owns 770,756 shares of the construction company’s stock worth $13,850,000 after buying an additional 8,848 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Quanex Building Products by 961.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 592,785 shares of the construction company’s stock worth $10,652,000 after buying an additional 536,949 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Quanex Building Products during the 1st quarter worth $207,000. Finally, Sei Investments Co. increased its holdings in shares of Quanex Building Products by 77.7% during the 1st quarter. Sei Investments Co. now owns 390,870 shares of the construction company’s stock worth $7,024,000 after buying an additional 170,892 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.