Quanex Building Products Co. (NYSE:NX) – Equities research analysts at KeyCorp reduced their Q2 2018 earnings estimates for shares of Quanex Building Products in a report released on Wednesday. KeyCorp analyst K. Zener now forecasts that the construction company will post earnings of $0.13 per share for the quarter, down from their previous forecast of $0.18. KeyCorp also issued estimates for Quanex Building Products’ Q1 2019 earnings at ($0.02) EPS.
NX has been the subject of several other research reports. Wedbush cut shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 target price for the company. in a research report on Monday, December 18th. Zacks Investment Research cut shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Finally, TheStreet cut shares of Quanex Building Products from a “b-” rating to a “c” rating in a research report on Monday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $22.50.
Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Monday, March 5th. The construction company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm had revenue of $191.70 million during the quarter, compared to analysts’ expectations of $189.95 million. Quanex Building Products had a net margin of 3.17% and a return on equity of 6.72%. Quanex Building Products’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Wednesday, March 14th. Quanex Building Products’s payout ratio is 20.51%.
In related news, SVP Kevin P. Delaney sold 50,400 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.02, for a total value of $1,210,608.00. Following the completion of the sale, the senior vice president now owns 111,527 shares in the company, valued at approximately $2,678,878.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Dewayne Williams sold 8,100 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $23.36, for a total transaction of $189,216.00. Following the completion of the sale, the vice president now owns 16,672 shares of the company’s stock, valued at approximately $389,457.92. The disclosure for this sale can be found here. Insiders have sold a total of 78,921 shares of company stock valued at $1,861,684 in the last quarter. Corporate insiders own 5.59% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC increased its position in shares of Quanex Building Products by 9.1% in the 4th quarter. Segall Bryant & Hamill LLC now owns 476,167 shares of the construction company’s stock valued at $11,142,000 after buying an additional 39,743 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Quanex Building Products in the 4th quarter valued at $414,000. Municipal Employees Retirement System of Michigan increased its position in shares of Quanex Building Products by 261.0% in the 4th quarter. Municipal Employees Retirement System of Michigan now owns 46,640 shares of the construction company’s stock valued at $1,091,000 after buying an additional 33,720 shares in the last quarter. PEAK6 Investments L.P. bought a new stake in shares of Quanex Building Products in the 4th quarter valued at $376,000. Finally, Millennium Management LLC bought a new stake in shares of Quanex Building Products in the 4th quarter valued at $223,000.
About Quanex Building Products
Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.
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