Quanex Building Products Co. (NYSE:NX) announced a quarterly dividend on Thursday, September 5th, Fidelity reports. Investors of record on Monday, September 16th will be given a dividend of 0.08 per share by the construction company on Monday, September 30th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, September 13th.
Quanex Building Products has raised its dividend by an average of 14.5% per year over the last three years. Quanex Building Products has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Quanex Building Products to earn $0.99 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 32.3%.
Shares of NYSE:NX traded up $0.41 during mid-day trading on Wednesday, hitting $18.40. 476,822 shares of the company traded hands, compared to its average volume of 195,298. The stock has a market cap of $596.92 million, a P/E ratio of 28.31 and a beta of 1.22. The stock has a 50-day moving average price of $17.57 and a two-hundred day moving average price of $17.02. Quanex Building Products has a 12-month low of $10.70 and a 12-month high of $19.55. The company has a current ratio of 2.15, a quick ratio of 1.17 and a debt-to-equity ratio of 0.53.
Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, September 5th. The construction company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. The business had revenue of $238.50 million during the quarter, compared to the consensus estimate of $245.73 million. Quanex Building Products had a negative net margin of 1.03% and a positive return on equity of 6.69%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, analysts expect that Quanex Building Products will post 0.85 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of Quanex Building Products from a “strong-buy” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.00.
In other Quanex Building Products news, Director Susan F. Davis sold 5,489 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.10, for a total transaction of $99,350.90. Following the completion of the transaction, the director now owns 30,671 shares in the company, valued at $555,145.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.98% of the company’s stock.
About Quanex Building Products
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers, extruded vinyl profiles, window and door screens, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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