Quanex Building Products (NYSE:NX) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

31 Oct 2024, 02:04 by Kim Johansen · The Markets Daily

Quanex Building Products Co. (NYSE:NX – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.99 and traded as high as $30.36. Quanex Building Products shares last traded at $30.14, with a volume of 171,362 shares trading hands.

Analyst Ratings Changes

NX has been the topic of several analyst reports. Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com upgraded shares of Quanex Building Products from a “hold” rating to a “buy” rating in a research report on Tuesday, October 8th.

Get Our Latest Stock Report on Quanex Building Products

Quanex Building Products Stock Performance

The stock’s 50 day simple moving average is $28.09 and its two-hundred day simple moving average is $29.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market cap of $1.39 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.26.

Quanex Building Products (NYSE:NX – Get Free Report) last announced its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same period in the prior year, the business earned $0.97 EPS. As a group, research analysts forecast that Quanex Building Products Co. will post 2.15 EPS for the current year.

Quanex Building Products Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.08 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.09%. Quanex Building Products’s dividend payout ratio (DPR) is presently 14.22%.

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its stake in shares of Quanex Building Products by 2.0% in the first quarter. Janney Montgomery Scott LLC now owns 15,564 shares of the construction company’s stock valued at $598,000 after buying an additional 304 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after purchasing an additional 393 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Quanex Building Products by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,452 shares of the construction company’s stock valued at $787,000 after purchasing an additional 474 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Quanex Building Products by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 28,972 shares of the construction company’s stock worth $1,113,000 after purchasing an additional 477 shares during the period. Finally, TD Asset Management Inc increased its position in Quanex Building Products by 3.4% during the second quarter. TD Asset Management Inc now owns 24,200 shares of the construction company’s stock worth $669,000 after buying an additional 800 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

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