Quanex Building Products (NYSE:NX) SVP Paul Cornett Sells 5,500 Shares of Stock

Quanex Building Products Corporation (NYSE:NX) SVP Paul Cornett sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $21.32, for a total transaction of $117,260.00. Following the completion of the transaction, the senior vice president owned 70,074 shares in the company, valued at approximately $1,493,977.68. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Quanex Building Products Stock Down 3.0%

NX stock opened at $21.09 on Wednesday. Quanex Building Products Corporation has a 12-month low of $11.04 and a 12-month high of $23.33. The company has a quick ratio of 1.21, a current ratio of 2.23 and a debt-to-equity ratio of 0.85. The company has a market cap of $966.55 million, a price-to-earnings ratio of 21.30, a PEG ratio of 0.76 and a beta of 0.95. The company has a 50 day moving average of $19.87 and a two-hundred day moving average of $19.12.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, September 3rd. The construction company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $497.51 million. During the same quarter last year, the business posted ($6.04) EPS. On average, equities analysts anticipate that Quanex Building Products Corporation will post 1.82 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently issued reports on NX shares. Wall Street Zen raised Quanex Building Products from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings raised Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a research report on Tuesday, September 8th. Benchmark reaffirmed a “buy” rating on shares of Quanex Building Products in a research report on Thursday, August 27th. Finally, Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in Quanex Building Products during the second quarter valued at about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Quanex Building Products in the second quarter worth about $36,000. GAMMA Investing LLC lifted its position in shares of Quanex Building Products by 63.6% in the third quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock worth $99,000 after buying an additional 2,032 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Quanex Building Products in the second quarter worth about $51,000. Finally, Byrne Asset Management LLC boosted its stake in shares of Quanex Building Products by 58.5% during the 2nd quarter. Byrne Asset Management LLC now owns 8,290 shares of the construction company’s stock worth $154,000 after acquiring an additional 3,060 shares in the last quarter. 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.