Quanex Building Products (NYSE:NX) Rating Reiterated by Benchmark

Benchmark reaffirmed their buy rating on shares of Quanex Building Products (NYSE:NX) in a research note published on Tuesday, Benzinga reports. Benchmark currently has a $38.00 price objective on the construction company’s stock.

Quanex Building Products Stock Down 0.1 %

Shares of NYSE NX opened at $33.66 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31. The company has a market cap of $1.11 billion, a P/E ratio of 12.80, a PEG ratio of 1.00 and a beta of 1.35. Quanex Building Products has a 1 year low of $18.71 and a 1 year high of $39.31. The firm has a 50-day simple moving average of $35.68 and a two-hundred day simple moving average of $32.17.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.06. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. The business had revenue of $239.16 million during the quarter, compared to the consensus estimate of $232.90 million. Research analysts anticipate that Quanex Building Products will post 2.4 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, March 14th. Quanex Building Products’s dividend payout ratio is presently 12.17%.

Insider Activity

In other news, SVP Paul Cornett sold 3,064 shares of Quanex Building Products stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total transaction of $115,574.08. Following the completion of the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at $1,655,983.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors have recently bought and sold shares of the business. Oliver Luxxe Assets LLC increased its holdings in Quanex Building Products by 1.5% during the first quarter. Oliver Luxxe Assets LLC now owns 43,900 shares of the construction company’s stock valued at $1,687,000 after buying an additional 660 shares during the period. GAMMA Investing LLC increased its holdings in Quanex Building Products by 157.1% during the first quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock valued at $69,000 after buying an additional 1,090 shares during the period. Vanguard Group Inc. increased its holdings in Quanex Building Products by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock valued at $113,553,000 after buying an additional 30,198 shares during the period. Quest Partners LLC purchased a new position in Quanex Building Products during the fourth quarter valued at approximately $303,000. Finally, Trexquant Investment LP increased its holdings in Quanex Building Products by 11.3% during the fourth quarter. Trexquant Investment LP now owns 11,808 shares of the construction company’s stock valued at $361,000 after buying an additional 1,197 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.