Quanex Building Products Co. Announces Quarterly Dividend of $0.08 (NYSE:NX)
Quanex Building Products Co. (NYSE:NX – Get Rating) declared a quarterly dividend on Thursday, May 26, Zacks reports. Shareholders of record on Wednesday, June 15 will receive a dividend of 0.08 per share from the construction company on Thursday, June 30. This represents an annualized dividend of $0.32 and a dividend yield of 1.57%. The ex-date of this dividend is Tuesday, June 14.
Quanex Building Products has increased its dividend by an average of 10.1% per year over the past 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, meaning the company should continue to be able to cover its $0.32 annual dividend with a payout ratio. expected future of 14.8%.
NYSE NX opened at $20.32 on Friday. The company’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/earnings ratio of 11.29 and a beta of 1.49. The company has a debt ratio of 0.18, a current ratio of 1.98 and a quick ratio of 1.08. Quanex Building Products has a 1 year minimum of $18.87 and a 1 year maximum of $28.30.
Quanex Building Products (NYSE:NX – Get Rating) last released its quarterly results on Thursday, March 3. The construction company reported earnings per share of $0.34 for the quarter, beating the consensus estimate of $0.28 by $0.06. The company posted revenue of $267.04 million for the quarter, compared to $243.70 million expected by analysts. Quanex Building Products achieved a return on equity of 14.80% and a net margin of 5.44%. During the same period of the previous year, the company achieved EPS of $0.27. Equity research analysts expect Quanex Building Products to post EPS of 1.93 for the current year.
In other Quanex Building Products news, Director Susan F. Davis sold 5,987 shares in a trade on Wednesday, March 9. 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 shares are currently held by insiders of the company.
A number of hedge funds have recently changed their holdings of NX. Morgan Stanley increased its stake in Quanex Building Products by 20.9% in the second quarter. Morgan Stanley now owns 366,689 shares of the construction company worth $9,110,000 after buying an additional 63,512 shares last quarter. Royal Bank of Canada increased its position in Quanex Building Products shares by 9.4% during the third quarter. Royal Bank of Canada now owns 15,951 shares of the construction company valued at $341,000 after buying 1,367 more shares last quarter. UBS Group AG increased its position in Quanex Building Products shares by 7.1% during the third quarter. UBS Group AG now owns 35,059 shares in the construction company valued at $750,000 after buying an additional 2,330 shares last quarter. Bank of New York Mellon Corp increased its position in Quanex Building Products shares by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 428,470 shares of the construction company valued at $9,174,000 after buying an additional 6,966 shares last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Quanex Building Products shares by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 411,128 shares of the construction company valued at $10,189,000 after buying an additional 16,315 shares last quarter. Institutional investors and hedge funds own 97.43% of the company’s shares.
A number of stock analysts have recently commented on NX shares. Zacks Investment Research upgraded Quanex Building Products from a “buy” rating to a “hold” rating in a Tuesday, May 10, report. StockNews.com began covering Quanex Building Products in a report on Thursday, March 31. They issued a “buy” rating on the stock.
About Quanex Building Products (Get an evaluation)
Quanex Building Products Corporation, together with its subsidiaries, supplies components for the fenestration industry in the United States, Europe, Canada, Asia and overseas. The Company operates through three segments: North American Fenestration, European Fenestration and North American Cabinet Components.
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