Key Points
- Teleios Capital Partners GmbH sold a total of 200,000 Quanex shares on Dec. 16–17 (80,515 at $16.51 and 119,485 at $15.94) for about $3.23 million, reducing its stake (a Dec. 16 filing showed 4,541,364 shares remaining, a 1.74% decrease).
- Quanex beat expectations with quarterly EPS of $0.83 versus $0.50 expected and revenue of $489.85M, and declared a quarterly dividend of $0.08 per share (annualized yield ~2.0%), payable Dec. 31.
- The stock carries a consensus Hold rating with a $28 price target; the company has a market cap of about $743M and a negative P/E (~-2.96), reflecting mixed financials despite the recent beat.
Quanex Building Products Corporation (NYSE:NX - Get Free Report) insider Teleios Capital Partners Gmbh sold 80,515 shares of the stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $16.51, for a total value of $1,329,302.65. Following the completion of the sale, the insider owned 4,541,364 shares of the company's stock, valued at approximately $74,977,919.64. This represents a 1.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Teleios Capital Partners Gmbh also recently made the following trade(s):
- On Wednesday, December 17th, Teleios Capital Partners Gmbh sold 119,485 shares of Quanex Building Products stock. The stock was sold at an average price of $15.94, for a total value of $1,904,590.90.
Quanex Building Products Price Performance
Shares of NYSE NX opened at $16.27 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.04 and a quick ratio of 1.14. Quanex Building Products Corporation has a 1-year low of $11.04 and a 1-year high of $25.67. The company has a market capitalization of $743.13 million, a price-to-earnings ratio of -2.96, a PEG ratio of 0.54 and a beta of 0.97. The business has a 50-day moving average of $13.86 and a 200-day moving average of $16.84.
Quanex Building Products (NYSE:NX - Get Free Report) last released its quarterly earnings results on Thursday, December 11th. The construction company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.50 by $0.33. Quanex Building Products had a positive return on equity of 12.46% and a negative net margin of 13.65%.The firm had revenue of $489.85 million for the quarter, compared to analyst estimates of $472.62 million. During the same period in the previous year, the company posted $0.61 EPS. On average, equities analysts anticipate that Quanex Building Products Corporation will post 2.18 EPS for the current fiscal year.
Quanex Building Products Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, December 15th. Quanex Building Products's dividend payout ratio (DPR) is presently -5.83%.
Hedge Funds Weigh In On Quanex Building Products
Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Quanex Building Products by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 754,805 shares of the construction company's stock valued at $14,032,000 after buying an additional 54,187 shares in the last quarter. Invesco Ltd. grew its position in shares of Quanex Building Products by 23.2% in the 1st quarter. Invesco Ltd. now owns 224,487 shares of the construction company's stock worth $4,173,000 after acquiring an additional 42,216 shares in the last quarter. Nuveen LLC bought a new stake in shares of Quanex Building Products in the 1st quarter valued at approximately $3,413,000. Public Sector Pension Investment Board increased its holdings in shares of Quanex Building Products by 27.7% in the 1st quarter. Public Sector Pension Investment Board now owns 149,676 shares of the construction company's stock valued at $2,782,000 after acquiring an additional 32,492 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Quanex Building Products by 42.1% during the 1st quarter. Russell Investments Group Ltd. now owns 392,399 shares of the construction company's stock valued at $7,295,000 after acquiring an additional 116,311 shares in the last quarter. 97.48% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
NX has been the subject of a number of analyst reports. Benchmark decreased their price objective on shares of Quanex Building Products from $30.00 to $28.00 and set a "buy" rating for the company in a research report on Monday. Weiss Ratings reissued a "sell (d)" rating on shares of Quanex Building Products in a report on Wednesday, October 8th. Finally, Zacks Research upgraded Quanex Building Products from a "strong sell" rating to a "hold" rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Quanex Building Products has a consensus rating of "Hold" and a consensus price target of $28.00.
Check Out Our Latest Analysis on NX
About Quanex Building Products
(
Get Free Report)
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.
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