Quanex Building Products (NYSE:NX) Downgraded by StockNews.com to “Sell”

Quanex Building Products (NYSE:NX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Sunday.

Separately, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Trading Up 8.5 %

Shares of NX opened at $25.10 on Friday. Quanex Building Products has a 1-year low of $22.92 and a 1-year high of $39.31. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $29.36 and a 200-day simple moving average of $28.80. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.08. Quanex Building Products had a net margin of 2.59% and a return on equity of 14.06%. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts forecast that Quanex Building Products will post 2.26 EPS for the current fiscal year.

Insider Activity

In related news, CEO George Laverne Wilson purchased 4,328 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $23.03 per share, with a total value of $99,673.84. Following the purchase, the chief executive officer now owns 287,644 shares of the company’s stock, valued at $6,624,441.32. This trade represents a 1.53 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.15% of the company’s stock.

Hedge Funds Weigh In On Quanex Building Products

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in Quanex Building Products by 4.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock worth $92,902,000 after acquiring an additional 147,444 shares in the last quarter. State Street Corp lifted its stake in shares of Quanex Building Products by 28.1% in the 3rd quarter. State Street Corp now owns 1,604,668 shares of the construction company’s stock valued at $44,530,000 after purchasing an additional 351,778 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Quanex Building Products by 14.6% in the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock worth $35,810,000 after purchasing an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC increased its position in Quanex Building Products by 0.5% during the third quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after buying an additional 6,566 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Quanex Building Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock valued at $32,058,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 97.48% of the company’s stock.

Quanex Building Products Company Profile

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.