Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our common stock has been listed on the New York Stock Exchange under the ticker symbol NX since April 24, 2008. Electronic copies of our public filings are available on the Securities and Exchange Commission's website (www.sec.gov). There were approximately 1,783 holders of our common stock (excluding individual participants in securities positions listings) on record as of December 4, 2020.
Equity Compensation Plan Information
The following table summarizes certain information regarding equity compensation to our employees, officers and directors under equity compensation plans as of October 31, 2020:
(a) (b) (c)
Plan Category Number of securities
to be issued upon
exercise of outstanding
options, warrants and
rights (1)
Weighted-average
exercise price of
outstanding options,
warrants and rights (2)
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
Equity compensation plans approved by security holders
1,095,329 $ 18.88 1,799,174
(1) Column (a) includes securities that may be issued upon future vesting of performance share awards that have been previously granted to key employees and officers. The number of securities reflected in this column includes the maximum number of shares that would be issued pursuant to these performance share awards assuming the performance measures are achieved. The performance measures may not be achieved.
(2) The weighted-average exercise price in column (b) does not include the impacts of the performance share awards or any securities that may be issued thereunder. For additional details, see Note 13, "Stock-Based Compensation," of the accompanying financial statements in this Annual Report on Form 10-K.
Issuer Purchases of Equity Securities
Set forth below is a table summarizing the program and the repurchase of shares during the quarter ended October 31, 2020.
Period (a) Total Number of Shares Purchased (1)
(b) Average Price Paid per Share (1)
(c) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1)
(d) Maximum US Dollars Remaining that May Yet Be Used to Purchase Shares Under the Plans or Programs (1)
August 2020 — — — $11,722,595
September 2020 30,001 $17.89 30,001 $11,185,997
October 2020 200 $18.27 200 $11,182,343
Total 30,201 $17.89 30,201
(1) On August 30, 2018, our Board of Directors approved a stock repurchase program that authorized the repurchase of up to $60.0 million worth of shares of our common stock. Repurchases under the new program will be made in open market transactions or privately negotiated transactions, subject to market conditions, applicable legal requirements and other relevant factors. The program does not have an expiration date or a limit on the number of shares that may be purchased. During the years ended October 31, 2020 and 2019, we purchased 450,000 and 583,398 shares, respectively, at a cost of $7.2 million and $9.6 million, respectively, under this program.
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Stock Performance Graph
The following chart represents a comparison of the five year total return of our common stock to the Standard & Poor’s 500 Index (S&P 500 Index), the Russell 2000 Index, and a peer group index selected by us, which includes companies offering similar products and services to ours. The companies in our peer group for the year ended October 31, 2020 are AAON Inc., American Woodmark Corp, Apogee Enterprises Inc., Armstrong Flooring Inc., Continental Building Products Inc., Cornerstone Building Brands Inc., CSW Industrials Inc., Gibraltar Industries Inc., Griffon Corporation, Insteel Industries Inc., L.B. Foster Company, Masonite International Corp, Mueller Water Products, Inc., Patrick Industries Inc., PGT Innovations, Inc., Simpson Manufacturing Company Inc., and Trex Company Inc.
INDEXED RETURNS For the Years Ended
Company Name / Index 10/31/2015 10/31/2016 10/31/2017 10/31/2018 10/31/2019 10/31/2020
Quanex Building Products Corporation $ 100.00 $ 87.15 $ 118.28 $ 80.68 $ 107.13 $ 103.24
S&P 500 Index $ 100.00 $ 104.51 $ 129.21 $ 138.70 $ 158.57 $ 173.97
Russell 2000 Index $ 100.00 $ 104.11 $ 133.09 $ 135.57 $ 142.22 $ 142.03
New Peer Group $ 100.00 $ 116.92 $ 149.71 $ 137.91 $ 173.41 $ 204.17
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Item 6. Selected Financial Data.
The following table presents selected historical consolidated financial and operating data for the periods shown. The selected consolidated financial data as of October 31, 2020, 2019, 2018, 2017 and 2016 and for each of the fiscal years then ended was derived from our audited consolidated financial statements for those dates and periods, adjusted for discontinued operations, as indicated. Data reflects the adoption of accounting standards updates and accounting changes made during the year ended October 31, 2020. The following information should be read in conjunction with Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our audited financial statements and related notes included elsewhere in this Annual Report on Form 10-K.
Fiscal Years Ended October 31,
2020 (1)(2)
2019 (2)(3)
2018 (2)(4)(5)
2017 (2)
2016 (2)(6)(7)
(Dollars in thousands, except per share data)
Consolidated Statements of Income
Net sales $ 851,573 $ 893,841 $ 889,785 $ 866,555 $ 928,184
Cost and expenses:
Cost of sales (excluding depreciation and amortization) 658,750 694,420 697,022 672,488 710,947
Selling, general and administrative 89,707 101,292 103,758 98,085 115,012
Restructuring charges 622 370 1,486 4,550 529
Depreciation and amortization 47,229 49,586 51,822 57,495 53,146
Asset impairment charges — 74,600 — — 12,602
Operating income (loss) 55,265 (26,427) 35,697 33,937 35,948
Non-operating (expense) income:
Interest expense (5,245) (9,643) (11,100) (9,595) (36,498)
Other, net 280 116 1,156 1,160 (5,074)
Income (loss) before income taxes 50,300 (35,954) 25,753 25,502 (5,624)
Income tax (expense) benefit (11,804) (10,776) 800 (6,819) 3,765
Net income (loss) $ 38,496 $ (46,730) $ 26,553 $ 18,683 $ (1,859)
Earnings per share:
Basic earnings (loss) per share $ 1.18 $ (1.42) $ 0.77 $ 0.55 $ (0.05)
Diluted earnings (loss) per share $ 1.17 $ (1.42) $ 0.76 $ 0.54 $ (0.05)
Cash dividends declared per share $ 0.32 $ 0.32 $ 0.20 $ 0.16 $ 0.16
Other Financial & Operating Data
Cash provided by operating activities $ 100,796 $ 96,372 $ 104,611 $ 79,778 $ 87,341
Cash used for investing activities (25,224) (23,559) (26,052) (32,627) (282,103)
Cash (used for) provided by financing activities (55,122) (71,264) (65,817) (55,133) 195,448
Acquisitions, net of cash acquired — — — — (245,904)
Capital expenditures $ 25,726 $ 24,883 $ 26,484 $ 34,564 $ 37,243
Selected Consolidated Balance Sheet Data
Cash and cash equivalents $ 51,621 $ 30,868 $ 29,003 $ 17,455 $ 25,526
Total assets 691,585 645,110 743,214 774,944 781,418
Long-term debt, excluding current portion 116,728 156,414 209,332 218,184 259,011
Total liabilities $ 335,826 $ 314,923 $ 347,992 $ 367,252 $ 412,742
(1) The results for 2020 include impacts of the COVID-19 pandemic. See Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations - Notable Items, " included elsewhere in this Annual Report on Form 10-K.
(2) Restructuring costs were incurred associated with the closure of several plant facilities. See Note 1, "Nature of Operations, Basis of Presentation and Significant Accounting Policies - Restructuring," of the accompanying financial statements in this Annual Report on Form 10-K.
(3) In 2019, we recorded goodwill impairment charges of $74.6 million associated with our cabinet components business.
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(4) In October 2018, we refinanced our credit facility resulting in a charge of $1.1 million of unamortized deferred financing fees. See Note 8, "Debt and Finance Lease Obligations," included elsewhere in this Annual Report on Form 10-K.
(5) In 2018, we recorded a $6.5 million net benefit related to the tax effect of implementing the Tax Cuts and Jobs Act, which was signed into law on December 22, 2017. See Note 10, "Income Taxes,"included elsewhere in this Annual Report on Form 10-K.
(6) In July 2016, we refinanced our credit facility resulting in a $3.1 million prepayment call premium fee, a charge of $8.1 million of unamortized deferred financing fees and a charge of $5.5 million of unamortized original issuer’s discount. See Note 8, "Debt and Finance Lease Obligations," included elsewhere in this Annual Report on Form 10-K.
(7) In October 2016, we recorded a goodwill impairment charge of $12.6 million associated with our U.S. vinyl extrusion business.
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