Quanex Building Products Corporation (NX) To Go Ex-Dividend on December 15th

by · The Markets Daily

Quanex Building Products Corporation (NYSE:NX – Get Free Report) announced a quarterly dividend on Friday, December 5th. Shareholders 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) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Monday, December 15th.

Quanex Building Products has a dividend payout ratio of 11.1% indicating that its dividend is sufficiently covered by earnings. 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 Up 9.0%

Shares of NX traded up $1.36 during mid-day trading on Friday, hitting $16.44. 3,309,671 shares of the company’s stock were exchanged, compared to its average volume of 759,991. Quanex Building Products has a twelve month low of $11.04 and a twelve month high of $28.71. The firm has a fifty day moving average of $13.72 and a two-hundred day moving average of $16.87. The stock has a market cap of $754.03 million, a price-to-earnings ratio of -2.99, a P/E/G 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.

Quanex Building Products (NYSE:NX – Get Free Report) last issued its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.33. The company had revenue of $489.85 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.61 earnings per share. On average, sell-side analysts forecast that Quanex Building Products will post 2.18 earnings per share for the current year.

Hedge Funds Weigh In On Quanex Building Products

Several large investors have recently modified their holdings of the business. Northern Trust Corp increased its stake in shares of Quanex Building Products by 1.5% in the 1st quarter. Northern Trust Corp now owns 497,810 shares of the construction company’s stock valued at $9,254,000 after acquiring an additional 7,564 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Quanex Building Products by 25.0% during the second quarter. Nisa Investment Advisors LLC now owns 20,060 shares of the construction company’s stock worth $379,000 after buying an additional 4,009 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Quanex Building Products in the second quarter valued at about $455,000. Bastion Asset Management Inc. boosted its stake in shares of Quanex Building Products by 161.3% in the 2nd quarter. Bastion Asset Management Inc. now owns 314,601 shares of the construction company’s stock worth $6,093,000 after buying an additional 194,205 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Quanex Building Products by 62.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,242 shares of the construction company’s stock valued at $80,000 after purchasing an additional 1,624 shares during the last quarter. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Company Profile

(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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