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

Benchmark restated their buy rating on shares of Quanex Building Products (NYSE:NX) in a report published on Wednesday morning, Benzinga reports. Benchmark currently has a $38.00 target price on the construction company’s stock.

Separately, StockNews.com cut Quanex Building Products from a buy rating to a hold rating in a report on Tuesday, September 10th.

Quanex Building Products Stock Up 2.3 %

NYSE NX opened at $27.52 on Wednesday. Quanex Building Products has a one year low of $24.85 and a one year high of $39.31. The stock’s 50 day simple moving average is $28.67 and its 200 day simple moving average is $31.79. 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 firm has a market cap of $1.30 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. The business had revenue of $280.35 million for the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. During the same period last year, the company earned $0.97 EPS. As a group, sell-side analysts forecast that Quanex Building Products will post 2.15 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, September 16th. Quanex Building Products’s dividend payout ratio (DPR) is presently 13.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund increased its stake in Quanex Building Products by 13.3% in the 4th quarter. New York State Common Retirement Fund now owns 14,387 shares of the construction company’s stock valued at $440,000 after buying an additional 1,694 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Quanex Building Products by 493.5% in the fourth quarter. Russell Investments Group Ltd. now owns 71,482 shares of the construction company’s stock valued at $2,185,000 after acquiring an additional 59,438 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Quanex Building Products by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,581 shares of the construction company’s stock worth $15,578,000 after acquiring an additional 9,172 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Quanex Building Products by 130.5% during the fourth quarter. Teacher Retirement System of Texas now owns 19,460 shares of the construction company’s stock valued at $595,000 after purchasing an additional 11,018 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Quanex Building Products by 8.9% in the fourth quarter. BNP Paribas Financial Markets now owns 18,097 shares of the construction company’s stock valued at $553,000 after purchasing an additional 1,478 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.