Quanex Building Products Sees Unusually Large Options Volume (NYSE:NX)

Quanex Building Products Corporation (NYSE:NX) was the target of some unusual options trading activity on Friday. Traders bought 2,298 call options on the stock. This represents an increase of approximately 1,091% compared to the typical volume of 193 call options.

Analyst Upgrades and Downgrades

NX has been the topic of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a research note on Wednesday, October 8th. Zacks Research raised Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

Quanex Building Products Stock Performance

NX opened at $16.44 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.18 and a current ratio of 2.20. Quanex Building Products has a 52-week low of $11.04 and a 52-week high of $28.71. The firm has a market capitalization of $754.08 million, a PE ratio of -2.99, a PEG ratio of 0.55 and a beta of 0.97. The business’s 50-day simple moving average is $13.72 and its 200 day simple moving average is $16.86.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.33. The business had revenue of $489.85 million during the quarter, compared to the consensus estimate of $472.62 million. Quanex Building Products had a positive return on equity of 11.87% and a negative net margin of 13.65%.During the same quarter in the previous year, the business earned $0.61 EPS. As a group, sell-side analysts expect that Quanex Building Products will post 2.18 earnings per share for the current fiscal year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.32 annualized dividend and a yield of 1.9%. Quanex Building Products’s dividend payout ratio (DPR) is -5.83%.

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors have recently modified their holdings of the business. CWM LLC raised its position in shares of Quanex Building Products by 104.5% in the second quarter. CWM LLC now owns 1,468 shares of the construction company’s stock valued at $28,000 after purchasing an additional 750 shares during the period. Danske Bank A S purchased a new position in Quanex Building Products in the 3rd quarter valued at approximately $26,000. Allworth Financial LP raised its holdings in Quanex Building Products by 17,191.7% during the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the construction company’s stock valued at $39,000 after acquiring an additional 2,063 shares during the period. Quarry LP raised its holdings in Quanex Building Products by 132.0% during the 3rd quarter. Quarry LP now owns 3,754 shares of the construction company’s stock valued at $53,000 after acquiring an additional 2,136 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Quanex Building Products by 62.0% during the second quarter. GAMMA Investing LLC now owns 4,242 shares of the construction company’s stock worth $80,000 after acquiring an additional 1,624 shares in the last quarter. 97.48% of the stock is owned by 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.