Quanex Building Products (NYSE:NX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Quanex Building Products Corporation (NYSE:NX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $18.45 and traded as high as $18.62. Quanex Building Products shares last traded at $18.2570, with a volume of 389,296 shares changing hands.

Analysts Set New Price Targets

NX has been the topic of a number of analyst reports. Zacks Research lowered shares of Quanex Building Products from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Quanex Building Products in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Quanex Building Products presently has an average rating of “Reduce” and a consensus target price of $28.00.

Quanex Building Products Trading Down 1.6%

The company has a current ratio of 2.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $838.54 million, a price-to-earnings ratio of -3.24, a price-to-earnings-growth ratio of 0.80 and a beta of 0.91. The business has a 50 day simple moving average of $17.50 and a 200-day simple moving average of $18.45.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, June 4th. The construction company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The company had revenue of $462.37 million during the quarter, compared to the consensus estimate of $459.27 million. Quanex Building Products had a negative net margin of 13.85% and a positive return on equity of 11.11%. On average, equities analysts predict that Quanex Building Products Corporation will post 1.66 earnings per share for the current year.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.32 annualized dividend and a yield of 1.8%. Quanex Building Products’s dividend payout ratio is -5.68%.

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Quanex Building Products by 7.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock valued at $43,013,000 after purchasing an additional 166,518 shares during the last quarter. Deprince Race & Zollo Inc. increased its holdings in shares of Quanex Building Products by 8.0% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,874,353 shares of the construction company’s stock worth $28,828,000 after buying an additional 139,036 shares during the last quarter. Systematic Financial Management LP raised its position in shares of Quanex Building Products by 10.3% in the 4th quarter. Systematic Financial Management LP now owns 1,773,756 shares of the construction company’s stock worth $27,280,000 after buying an additional 165,424 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Quanex Building Products by 36.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,741,613 shares of the construction company’s stock worth $31,296,000 after buying an additional 462,992 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Quanex Building Products by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,099,557 shares of the construction company’s stock valued at $16,914,000 after acquiring an additional 4,976 shares during the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

Quanex Building Products Corporation engages in the design, manufacture and distribution of components for the window, door and building products industries in North America. The company operates through two primary segments: Window Products and Door & Building Products. Its Window Products segment supplies vinyl window profiles and related accessories, while its Door & Building Products segment offers engineered door skins, panels, siding products, specialty moldings and other exterior building components.

Within its Window Products segment, Quanex produces extrusion profiles used by window fabricators to assemble vinyl casement, double-hung, slider and picture windows.