Quanex Building Products Corporation (NX) Receives $24.00 Consensus Price Target from Analysts

Quanex Building Products Corporation (NYSE:NX) has earned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $24.00.

A number of equities research analysts have weighed in on NX shares. TheStreet raised Quanex Building Products Corporation from a “c” rating to a “b-” rating in a research report on Wednesday, September 6th. Sidoti started coverage on Quanex Building Products Corporation in a research report on Monday, August 7th. They set a “buy” rating for the company. Zacks Investment Research raised Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. KeyCorp reaffirmed a “hold” rating on shares of Quanex Building Products Corporation in a research report on Friday, September 22nd. Finally, Wedbush raised Quanex Building Products Corporation from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Friday, September 8th.

Quanex Building Products Corporation (NX) traded down 1.34% during trading on Friday, hitting $22.15. The stock had a trading volume of 174,607 shares. Quanex Building Products Corporation has a 12 month low of $15.41 and a 12 month high of $23.60. The stock has a market cap of $763.22 million, a price-to-earnings ratio of 56.36 and a beta of 0.67. The stock has a 50 day moving average price of $21.35 and a 200-day moving average price of $20.67.

Quanex Building Products Corporation (NYSE:NX) last issued its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). Quanex Building Products Corporation had a return on equity of 7.87% and a net margin of 1.52%. The business had revenue of $229.40 million for the quarter, compared to the consensus estimate of $235.45 million. During the same period in the prior year, the business posted $0.27 earnings per share. Quanex Building Products Corporation’s revenue was down 7.5% on a year-over-year basis. On average, equities analysts predict that Quanex Building Products Corporation will post $0.69 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 18th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, September 15th. Quanex Building Products Corporation’s dividend payout ratio (DPR) is presently 42.11%.

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In other news, VP Brent L. Korb sold 17,500 shares of Quanex Building Products Corporation stock in a transaction on Monday, September 25th. The stock was sold at an average price of $21.15, for a total value of $370,125.00. Following the transaction, the vice president now directly owns 94,679 shares in the company, valued at approximately $2,002,460.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.32% of the company’s stock.

Several large investors have recently made changes to their positions in NX. Russell Investments Group Ltd. increased its holdings in shares of Quanex Building Products Corporation by 22.7% in the 1st quarter. Russell Investments Group Ltd. now owns 70,658 shares of the construction company’s stock valued at $1,431,000 after acquiring an additional 13,049 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Quanex Building Products Corporation by 13.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 39,340 shares of the construction company’s stock valued at $797,000 after acquiring an additional 4,712 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Quanex Building Products Corporation by 5.0% in the 1st quarter. Bank of New York Mellon Corp now owns 479,834 shares of the construction company’s stock valued at $9,717,000 after acquiring an additional 22,970 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Quanex Building Products Corporation by 5.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,938 shares of the construction company’s stock valued at $161,000 after acquiring an additional 403 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Quanex Building Products Corporation by 24.9% in the 1st quarter. Ameriprise Financial Inc. now owns 426,691 shares of the construction company’s stock valued at $8,640,000 after acquiring an additional 85,102 shares during the period. Institutional investors and hedge funds own 99.75% of the company’s stock.

Quanex Building Products Corporation Company Profile

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