Quanex Building Products (NYSE:NX) Rating Lowered to Buy at StockNews.com

Quanex Building Products (NYSE:NX) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Separately, Benchmark restated a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Tuesday, April 23rd.

Quanex Building Products Stock Performance

NYSE:NX traded down $0.35 during trading hours on Thursday, hitting $30.47. 205,750 shares of the company were exchanged, compared to its average volume of 168,405. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.27 and a quick ratio of 1.31. Quanex Building Products has a 52-week low of $24.97 and a 52-week high of $39.31. The company’s 50 day moving average price is $34.40 and its 200-day moving average price is $33.25. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.93 and a beta of 1.36.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Thursday, March 7th. The construction company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.12 by $0.06. Quanex Building Products had a net margin of 7.84% and a return on equity of 17.11%. The business had revenue of $239.16 million during the quarter, compared to analysts’ expectations of $232.90 million. As a group, research analysts forecast that Quanex Building Products will post 2.4 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Paul Cornett sold 3,064 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.72, for a total transaction of $115,574.08. Following the completion of the sale, the senior vice president now owns 43,902 shares of the company’s stock, valued at $1,655,983.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.15% of the stock is owned by insiders.

Institutional Investors Weigh In On Quanex Building Products

A number of hedge funds have recently modified their holdings of NX. Quantbot Technologies LP purchased a new stake in shares of Quanex Building Products in the third quarter valued at about $83,000. Charles Schwab Investment Management Inc. lifted its position in Quanex Building Products by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 500,409 shares of the construction company’s stock valued at $14,097,000 after buying an additional 17,814 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its position in Quanex Building Products by 52.7% in the third quarter. Campbell & CO Investment Adviser LLC now owns 34,523 shares of the construction company’s stock valued at $973,000 after buying an additional 11,911 shares during the last quarter. Oliver Luxxe Assets LLC acquired a new position in Quanex Building Products in the third quarter valued at about $782,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in Quanex Building Products in the third quarter valued at about $67,000. Hedge funds and other institutional investors own 97.48% of the company’s stock.

About Quanex Building Products

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.