Short Interest in Quanex Building Products Co. (NYSE:NX) Declines By 5.2%

Quanex Building Products Co. (NYSE:NX) was the recipient of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 1,471,300 shares, a decrease of 5.2% from the April 30th total of 1,551,400 shares. Approximately 4.5% of the company’s stock are sold short. Based on an average daily volume of 180,300 shares, the short-interest ratio is currently 8.2 days.

NX stock traded up $0.46 during mid-day trading on Friday, reaching $18.52. 124,443 shares of the stock traded hands, compared to its average volume of 229,368. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.32 and a quick ratio of 1.30. Quanex Building Products has a 52 week low of $10.70 and a 52 week high of $19.75. The stock has a 50-day simple moving average of $17.43. The company has a market cap of $613.42 million, a price-to-earnings ratio of 28.49 and a beta of 1.22.

Quanex Building Products (NYSE:NX) last released its quarterly earnings results on Tuesday, June 4th. The construction company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.07. Quanex Building Products had a negative net margin of 1.15% and a positive return on equity of 5.90%. The company had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $219.53 million. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Sell-side analysts predict that Quanex Building Products will post 0.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, June 13th. Quanex Building Products’s dividend payout ratio (DPR) is 49.23%.

Hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its holdings in shares of Quanex Building Products by 6.1% in the fourth quarter. Arizona State Retirement System now owns 54,154 shares of the construction company’s stock valued at $736,000 after purchasing an additional 3,111 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Quanex Building Products in the fourth quarter valued at approximately $150,000. Rhumbline Advisers increased its holdings in shares of Quanex Building Products by 20.5% in the fourth quarter. Rhumbline Advisers now owns 103,223 shares of the construction company’s stock valued at $1,403,000 after purchasing an additional 17,583 shares in the last quarter. TD Asset Management Inc. increased its holdings in shares of Quanex Building Products by 6.5% in the fourth quarter. TD Asset Management Inc. now owns 39,405 shares of the construction company’s stock valued at $536,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Quanex Building Products in the fourth quarter valued at approximately $182,000. Institutional investors own 98.01% of the company’s stock.

Separately, Zacks Investment Research cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $18.00.

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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