Quanex Building Products (NYSE:NX) Share Price Breaks Below 50-Day Moving Average – Time to Sell?

Quanex Building Products Corporation (NYSE:NX) crossed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $20.11 and traded as low as $19.14. Quanex Building Products shares last traded at $19.4010, with a volume of 748,459 shares traded.

Analyst Ratings Changes

NX has been the topic of several research analyst reports. Benchmark restated a “buy” rating on shares of Quanex Building Products in a research note on Thursday, August 27th. Weiss Ratings raised shares of Quanex Building Products from a “sell (d)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wall Street Zen upgraded shares of Quanex Building Products from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 31st. Finally, Zacks Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $28.00.

Quanex Building Products Price Performance

The stock has a market capitalization of $889.15 million, a P/E ratio of 19.60, a PEG ratio of 0.73 and a beta of 0.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 2.23. The firm has a fifty day moving average price of $20.11 and a two-hundred day moving average price of $19.21.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 3rd. The construction company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.66 by $0.13. The company had revenue of $501.85 million during the quarter, compared to analyst estimates of $497.51 million. Quanex Building Products had a return on equity of 11.61% and a net margin of 2.43%. During the same quarter in the previous year, the company posted ($6.04) earnings per share. As a group, analysts expect that Quanex Building Products Corporation will post 1.82 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, September 15th. Quanex Building Products’s payout ratio is currently 32.32%.

Insider Activity

In other news, SVP Paul Cornett sold 5,500 shares of the company’s stock in a transaction dated 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 sale, the senior vice president owned 70,074 shares of the company’s stock, valued at $1,493,977.68. This represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new stake in Quanex Building Products during the second quarter valued at approximately $26,000. Public Employees Retirement System of Ohio purchased a new position in shares of Quanex Building Products during the 2nd quarter worth $36,000. GAMMA Investing LLC boosted its stake in shares of Quanex Building Products by 63.6% during the 3rd quarter. GAMMA Investing LLC now owns 5,227 shares of the construction company’s stock worth $99,000 after acquiring an additional 2,032 shares during the last quarter. Allworth Financial LP purchased a new position in shares of Quanex Building Products during the 2nd quarter worth $51,000. Finally, Byrne Asset Management LLC grew its position 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 valued at $154,000 after acquiring an additional 3,060 shares during the period. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation is a manufacturer of components used in residential and commercial building products. Its offerings serve window, door, and cabinet makers, with products that include window and door components, screens, hardware, seals and weatherstripping, insulated-glass components, and cabinet doors and related parts. The company sells to manufacturers and other customers in the building-products supply chain. Its operations serve markets in North America and internationally, providing components used in both new construction and renovation projects.