Quanex Building Products (NYSE:NX) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Quanex Building Products (NYSE:NXGet Rating) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “

Separately, StockNews.com initiated coverage on shares of Quanex Building Products in a research note on Thursday, March 31st. They set a buy rating for the company.

NYSE:NX opened at $19.37 on Tuesday. The stock has a market cap of $646.74 million, a P/E ratio of 10.76 and a beta of 1.49. Quanex Building Products has a one year low of $18.91 and a one year high of $28.30. The company has a fifty day moving average price of $21.13 and a 200 day moving average price of $22.26. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.98 and a quick ratio of 1.08.

Quanex Building Products (NYSE:NXGet Rating) last released its earnings results on Thursday, March 3rd. The construction company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The firm had revenue of $267.04 million during the quarter, compared to analysts’ expectations of $243.70 million. Quanex Building Products had a net margin of 5.44% and a return on equity of 14.80%. During the same period in the prior year, the company earned $0.27 EPS. As a group, equities research analysts anticipate that Quanex Building Products will post 1.93 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 30th. Investors of record on Tuesday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.65%. The ex-dividend date was Monday, March 14th. Quanex Building Products’s payout ratio is currently 17.78%.

In other news, Director Susan F. Davis sold 5,987 shares of the stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $23.02, for a total value of $137,820.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.43% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Quanex Building Products by 5.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 433,140 shares of the construction company’s stock valued at $9,092,000 after buying an additional 22,012 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Quanex Building Products by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 3,769,462 shares of the construction company’s stock worth $79,121,000 after purchasing an additional 75,057 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Quanex Building Products by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,387,337 shares of the construction company’s stock worth $50,111,000 after purchasing an additional 8,816 shares during the last quarter. LSV Asset Management grew its holdings in shares of Quanex Building Products by 6,352.9% in the 1st quarter. LSV Asset Management now owns 548,496 shares of the construction company’s stock worth $11,513,000 after purchasing an additional 539,996 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Quanex Building Products by 6.2% in the 1st quarter. Yousif Capital Management LLC now owns 30,913 shares of the construction company’s stock worth $649,000 after purchasing an additional 1,795 shares during the last quarter. Institutional investors own 97.43% of the company’s stock.

Quanex Building Products Company Profile (Get Rating)

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.

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