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.
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.
Featured Story: How a Strangle Strategy is different from a Straddle Strategy
Receive News & Ratings for Quanex Building Products Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quanex Building Products and related companies with MarketBeat.com's FREE daily email newsletter.