Quanex Building Products Co. (NYSE:NX – Get Rating) declared a quarterly dividend on Thursday, May 26th, Zacks reports. Stockholders of record on Wednesday, June 15th will be given a dividend of 0.08 per share by the construction company on Thursday, June 30th. This represents a $0.32 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 14th.
Quanex Building Products has increased its dividend payment by an average of 10.1% per year over the last three years. Quanex Building Products has a dividend payout ratio of 14.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Quanex Building Products to earn $2.16 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 14.8%.
NYSE NX opened at $20.32 on Friday. The business’s fifty day moving average price is $20.43 and its 200-day moving average price is $22.10. The stock has a market capitalization of $678.46 million, a price-to-earnings ratio of 11.29 and a beta of 1.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.98 and a quick ratio of 1.08. Quanex Building Products has a 1-year low of $18.87 and a 1-year high of $28.30.
In other Quanex Building Products news, Director Susan F. Davis sold 5,987 shares of the stock in a transaction on Wednesday, March 9th. The stock was sold at an average price of $23.02, for a total value of $137,820.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.43% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of NX. Morgan Stanley increased its stake in Quanex Building Products by 20.9% in the 2nd quarter. Morgan Stanley now owns 366,689 shares of the construction company’s stock worth $9,110,000 after buying an additional 63,512 shares in the last quarter. Royal Bank of Canada grew its position in shares of Quanex Building Products by 9.4% during the third quarter. Royal Bank of Canada now owns 15,951 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,367 shares in the last quarter. UBS Group AG grew its position in shares of Quanex Building Products by 7.1% during the third quarter. UBS Group AG now owns 35,059 shares of the construction company’s stock valued at $750,000 after purchasing an additional 2,330 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Quanex Building Products by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 428,470 shares of the construction company’s stock valued at $9,174,000 after purchasing an additional 6,966 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Quanex Building Products by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,128 shares of the construction company’s stock valued at $10,189,000 after purchasing an additional 16,315 shares in the last quarter. Institutional investors and hedge funds own 97.43% of the company’s stock.
A number of equities analysts recently commented on NX shares. Zacks Investment Research cut Quanex Building Products from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. StockNews.com started coverage on Quanex Building Products in a report on Thursday, March 31st. They issued a “buy” rating on the stock.
About Quanex Building Products (Get Rating)
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.
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