Quanex Building Products Co. (NYSE:NX) Short Interest Down 22.2% in March

Quanex Building Products Co. (NYSE:NX) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 607,800 shares, a decline of 22.2% from the March 15th total of 781,100 shares. Based on an average trading volume of 147,900 shares, the short-interest ratio is presently 4.1 days. Currently, 1.9% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, Benchmark raised their price target on Quanex Building Products from $33.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th.

Quanex Building Products Stock Down 1.2 %

NX traded down $0.42 on Monday, reaching $35.45. The company’s stock had a trading volume of 106,192 shares, compared to its average volume of 153,440. The company has a quick ratio of 1.31, a current ratio of 2.27 and a debt-to-equity ratio of 0.11. Quanex Building Products has a fifty-two week low of $18.71 and a fifty-two week high of $39.31. The stock has a 50 day moving average of $35.41 and a two-hundred day moving average of $31.86. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.07 and a beta of 1.35.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, March 7th. The construction company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $239.16 million during the quarter, compared to analysts’ expectations of $232.90 million. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. As a group, analysts forecast that Quanex Building Products will post 2.4 EPS for the current fiscal year.

Quanex Building Products Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 0.90%. Quanex Building Products’s dividend payout ratio (DPR) is 12.17%.

Insider Transactions at Quanex Building Products

In other Quanex Building Products news, SVP Paul Cornett sold 3,064 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $37.72, for a total value of $115,574.08. Following the transaction, the senior vice president now directly owns 43,902 shares in the company, valued at approximately $1,655,983.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. State of Wyoming increased its holdings in shares of Quanex Building Products by 40.4% in the fourth quarter. State of Wyoming now owns 1,435 shares of the construction company’s stock valued at $34,000 after purchasing an additional 413 shares during the period. Captrust Financial Advisors increased its stake in Quanex Building Products by 63.1% in the 1st quarter. Captrust Financial Advisors now owns 2,316 shares of the construction company’s stock valued at $49,000 after buying an additional 896 shares during the period. Strs Ohio acquired a new stake in shares of Quanex Building Products in the 3rd quarter worth $59,000. Tower Research Capital LLC TRC boosted its holdings in shares of Quanex Building Products by 139.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,600 shares of the construction company’s stock valued at $66,000 after acquiring an additional 2,095 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Quanex Building Products in the third quarter valued at about $67,000. 97.48% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

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.