Quanex Building Products (NYSE:NX) Sets New 1-Year Low – Should You Sell?

Quanex Building Products Co. (NYSE:NX) hit a new 52-week low during trading on Tuesday . The company traded as low as $22.75 and last traded at $22.92, with a volume of 19876 shares traded. The stock had previously closed at $23.28.

Wall Street Analyst Weigh In

NX has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Sunday, December 22nd.

Quanex Building Products Stock Performance

The stock has a market cap of $1.07 billion, a P/E ratio of 20.23, a PEG ratio of 0.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a 50-day simple moving average of $27.89 and a 200-day simple moving average of $28.28.

Quanex Building Products (NYSE:NX) last issued its earnings results on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same period last year, the company earned $0.95 EPS. Research analysts forecast that Quanex Building Products Co. will post 2.26 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 1.41%. Quanex Building Products’s dividend payout ratio is presently 28.57%.

Insider Activity

In related news, CEO George Laverne Wilson acquired 4,328 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $23.03 per share, for a total transaction of $99,673.84. Following the completion of the transaction, the chief executive officer now directly owns 287,644 shares of the company’s stock, valued at $6,624,441.32. The trade was a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.15% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of NX. Allspring Global Investments Holdings LLC boosted its position in shares of Quanex Building Products by 4.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after purchasing an additional 147,444 shares in the last quarter. State Street Corp grew its position in shares of Quanex Building Products by 28.1% during the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock worth $44,530,000 after buying an additional 351,778 shares during the period. Pacer Advisors Inc. increased its stake in shares of Quanex Building Products by 14.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after acquiring an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Quanex Building Products by 0.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after acquiring an additional 6,566 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Quanex Building Products by 0.3% in the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock worth $32,058,000 after purchasing an additional 3,400 shares during the period. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Company Profile

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.