Quanex Building Products Corporation (NX) Declares Quarterly Dividend of $0.04
Quanex Building Products Corporation (NYSE:NX) announced a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Investors of record on Monday, September 18th will be given a dividend of 0.04 per share by the construction company on Friday, September 29th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date is Friday, September 15th.
Quanex Building Products Corporation has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Quanex Building Products Corporation to earn $0.99 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 16.2%.
Shares of Quanex Building Products Corporation (NYSE:NX) traded down 0.75% during midday trading on Thursday, reaching $19.85. The company’s stock had a trading volume of 301,087 shares. The stock’s 50 day moving average price is $20.37 and its 200 day moving average price is $20.25. Quanex Building Products Corporation has a one year low of $15.40 and a one year high of $22.65. The firm’s market cap is $678.02 million.
Quanex Building Products Corporation (NYSE:NX) last posted its quarterly earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.01. The company had revenue of $229.40 million for the quarter, compared to analysts’ expectations of $235.45 million. Quanex Building Products Corporation had a positive return on equity of 7.70% and a negative net margin of 0.09%. The business’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.27 EPS. Analysts predict that Quanex Building Products Corporation will post $0.79 earnings per share for the current year.
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NX has been the topic of a number of recent analyst reports. Wedbush reissued an “outperform” rating and issued a $25.00 target price on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. BidaskClub downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Sidoti initiated coverage on shares of Quanex Building Products Corporation in a research note on Monday, August 7th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised shares of Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.75.
In other Quanex Building Products Corporation news, SVP Kevin P. Delaney sold 13,642 shares of the firm’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $21.01, for a total transaction of $286,618.42. Following the completion of the transaction, the senior vice president now directly owns 111,991 shares of the company’s stock, valued at approximately $2,352,930.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin P. Delaney sold 59,700 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $21.35, for a total transaction of $1,274,595.00. Following the transaction, the senior vice president now directly owns 133,471 shares of the company’s stock, valued at $2,849,605.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,809 shares of company stock valued at $2,230,713. Company insiders own 5.32% of the company’s stock.
Quanex Building Products Corporation Company Profile
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