Quanex Building Products Corporation (NYSE:NX) Announces $0.08 Quarterly Dividend

by · The Cerbat Gem

Quanex Building Products Corporation (NYSE:NX – Get Free Report) declared a quarterly dividend on Friday, December 5th. Investors of record on Monday, December 15th will be paid a dividend of 0.08 per share by the construction company on Wednesday, December 31st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Monday, December 15th.

Quanex Building Products has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Quanex Building Products to earn $2.64 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 12.1%.

Quanex Building Products Stock Performance

NX traded up $1.36 during trading on Friday, reaching $16.44. 3,309,671 shares of the company’s stock were exchanged, compared to its average volume of 759,991. The company has a market capitalization of $754.03 million, a P/E ratio of -2.99, a PEG ratio of 0.50 and a beta of 0.97. The company has a quick ratio of 1.18, a current ratio of 2.20 and a debt-to-equity ratio of 0.97. The business has a 50 day moving average price of $13.72 and a 200 day moving average price of $16.87. Quanex Building Products has a fifty-two week low of $11.04 and a fifty-two week high of $28.71.

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

Hedge Funds Weigh In On Quanex Building Products

Several institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in Quanex Building Products by 3.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,355,294 shares of the construction company’s stock worth $67,509,000 after purchasing an additional 110,268 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Quanex Building Products by 7.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,275,870 shares of the construction company’s stock worth $43,013,000 after buying an additional 166,518 shares in the last quarter. Systematic Financial Management LP grew its holdings in Quanex Building Products by 6.7% during the 2nd quarter. Systematic Financial Management LP now owns 1,283,079 shares of the construction company’s stock worth $24,250,000 after acquiring an additional 80,574 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Quanex Building Products by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 754,805 shares of the construction company’s stock worth $14,032,000 after acquiring an additional 54,187 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in Quanex Building Products by 32.9% in the 2nd quarter. Loomis Sayles & Co. L P now owns 548,831 shares of the construction company’s stock valued at $10,373,000 after acquiring an additional 135,875 shares in the last quarter. Institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

(Get Free Report)

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.

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