Quanex Building Products (NYSE:NX) Sees Unusually-High Trading Volume

Quanex Building Products Co. (NYSE:NX) saw strong trading volume on Tuesday . 173,287 shares traded hands during trading, an increase of 11% from the previous session’s volume of 155,439 shares.The stock last traded at $34.31 and had previously closed at $33.69.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a report on Tuesday.

Quanex Building Products Stock Performance

The stock has a market capitalization of $1.11 billion, a PE ratio of 12.80, a P/E/G ratio of 1.03 and a beta of 1.35. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.31 and a current ratio of 2.27. The firm’s 50 day moving average is $35.68 and its two-hundred day moving average is $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, beating the consensus estimate of $0.12 by $0.06. Quanex Building Products had a return on equity of 17.11% and a net margin of 7.84%. The business had revenue of $239.16 million for the quarter, compared to analysts’ expectations of $232.90 million. As a group, research analysts predict that Quanex Building Products Co. will post 2.4 earnings per share for the current year.

Quanex Building Products Announces Dividend

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

Insider Activity

In other news, SVP Paul Cornett sold 3,064 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $37.72, for a total transaction of $115,574.08. Following the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at approximately $1,655,983.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.15% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. grew its stake in Quanex Building Products by 46.6% during the 4th quarter. Pacer Advisors Inc. now owns 791,876 shares of the construction company’s stock worth $24,208,000 after buying an additional 251,892 shares during the last quarter. American Century Companies Inc. grew its position in shares of Quanex Building Products by 19.1% during the third quarter. American Century Companies Inc. now owns 462,937 shares of the construction company’s stock worth $13,041,000 after acquiring an additional 74,297 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Quanex Building Products by 493.5% in the 4th 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 period. Advisors Preferred LLC purchased a new stake in Quanex Building Products in the 3rd quarter valued at $1,376,000. Finally, Vanguard Group Inc. boosted its stake in Quanex Building Products by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after purchasing an additional 30,198 shares during the period. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.