Quanex Building Products Corporation (NX) Upgraded at Wedbush

Wedbush upgraded shares of Quanex Building Products Corporation (NYSE:NX) from a neutral rating to an outperform rating in a report released on Friday. Wedbush currently has $24.00 target price on the construction company’s stock, down from their previous target price of $25.00. Wedbush also issued estimates for Quanex Building Products Corporation’s Q3 2018 earnings at $0.26 EPS.

Several other equities analysts have also recently weighed in on the company. BidaskClub cut Quanex Building Products Corporation from a sell rating to a strong sell rating in a research report on Friday, August 18th. Zacks Investment Research raised Quanex Building Products Corporation from a sell rating to a hold rating in a research report on Thursday, August 10th. Finally, Sidoti started coverage on Quanex Building Products Corporation in a research report on Monday, August 7th. They set a buy rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $24.00.

Shares of Quanex Building Products Corporation (NX) opened at 20.25 on Friday. The firm’s 50-day moving average price is $20.31 and its 200-day moving average price is $20.25. Quanex Building Products Corporation has a 52 week low of $15.40 and a 52 week high of $22.65. The firm’s market cap is $691.68 million.

Quanex Building Products Corporation (NYSE:NX) last posted its quarterly earnings data on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.34 by $0.01. Quanex Building Products Corporation had a return on equity of 7.87% and a net margin of 1.52%. The business had revenue of $229.40 million for the quarter, compared to analyst estimates of $235.45 million. During the same period in the prior year, the firm posted $0.27 EPS. Quanex Building Products Corporation’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities research analysts expect that Quanex Building Products Corporation will post $0.80 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 18th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 0.79%. Quanex Building Products Corporation’s dividend payout ratio is presently 42.11%.

In other Quanex Building Products Corporation news, SVP Kevin P. Delaney sold 59,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $21.35, for a total value of $1,274,595.00. Following the completion of the transaction, the senior vice president now owns 133,471 shares of the company’s stock, valued at approximately $2,849,605.85. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Kevin P. Delaney sold 9,971 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $21.53, for a total value of $214,675.63. Following the completion of the transaction, the senior vice president now directly owns 113,442 shares of the company’s stock, valued at approximately $2,442,406.26. The disclosure for this sale can be found here. Insiders have sold a total of 104,809 shares of company stock valued at $2,230,713 in the last three months. 5.32% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in Quanex Building Products Corporation by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,790 shares of the construction company’s stock valued at $588,000 after acquiring an additional 970 shares in the last quarter. State Street Corp raised its holdings in Quanex Building Products Corporation by 5.1% in the 2nd quarter. State Street Corp now owns 837,719 shares of the construction company’s stock valued at $17,720,000 after acquiring an additional 40,540 shares in the last quarter. Voya Investment Management LLC raised its holdings in Quanex Building Products Corporation by 140.9% in the 2nd quarter. Voya Investment Management LLC now owns 41,144 shares of the construction company’s stock valued at $870,000 after acquiring an additional 24,067 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Quanex Building Products Corporation by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the construction company’s stock valued at $60,474,000 after acquiring an additional 111,005 shares in the last quarter. Finally, Citadel Advisors LLC raised its holdings in Quanex Building Products Corporation by 1.7% in the 2nd quarter. Citadel Advisors LLC now owns 53,482 shares of the construction company’s stock valued at $1,131,000 after acquiring an additional 886 shares in the last quarter. 99.75% of the stock is owned by hedge funds and other institutional investors.

About Quanex Building Products Corporation

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