Quanex Building Products (NX) to Release Quarterly Earnings on Thursday

Quanex Building Products (NYSE:NX – Get Rating) is scheduled to issue its quarterly earnings data after the market closes on Thursday, June 1st. Quanex Building Products has set its FY 2023 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Quanex Building Products (NYSE:NX – Get Rating) last announced its quarterly earnings results on Thursday, March 9th. The construction company reported $0.18 EPS for the quarter. The business had revenue of $261.92 million for the quarter. Quanex Building Products had a return on equity of 18.33% and a net margin of 6.50%.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $20.96 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.22 and a quick ratio of 1.16. The business’s 50 day simple moving average is $20.22 and its two-hundred day simple moving average is $22.94. The stock has a market capitalization of $696.71 million, a P/E ratio of 8.77 and a beta of 1.35. Quanex Building Products has a one year low of $18.00 and a one year high of $27.04.

Quanex Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.53%. Quanex Building Products’s dividend payout ratio (DPR) is currently 13.39%.

Institutional Investors Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in Quanex Building Products by 1,379.7% in the first quarter. Envestnet Asset Management Inc. now owns 263,428 shares of the construction company’s stock worth $253,000 after purchasing an additional 245,625 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Quanex Building Products in the first quarter worth $250,000. Royal Bank of Canada boosted its holdings in Quanex Building Products by 8.1% in the third quarter. Royal Bank of Canada now owns 13,509 shares of the construction company’s stock worth $245,000 after acquiring an additional 1,012 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Quanex Building Products in the fourth quarter worth $238,000. Finally, Guggenheim Capital LLC boosted its holdings in Quanex Building Products by 30.7% in the third quarter. Guggenheim Capital LLC now owns 12,129 shares of the construction company’s stock worth $220,000 after acquiring an additional 2,852 shares in the last quarter. 98.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NX. Benchmark reissued a “buy” rating and set a $28.00 target price on shares of Quanex Building Products in a research note on Tuesday, March 14th. StockNews.com began coverage on Quanex Building Products in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

About Quanex Building Products

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Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. The firm operates through the following segments: North American Fenestration, European Fenestration, North American Cabinet Components, and Unallocated Corporate and Other.