Quanex Building Products (NYSE:NX – Get Free Report) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Friday.
Separately, Benchmark reiterated a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a research report on Tuesday, April 23rd.
Read Our Latest Research Report on Quanex Building Products
Quanex Building Products Stock Performance
Quanex Building Products (NYSE:NX – Get Free Report) last issued its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The firm had revenue of $266.20 million for the quarter, compared to the consensus estimate of $268.80 million. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. During the same period in the prior year, the business posted $0.66 earnings per share. Research analysts anticipate that Quanex Building Products will post 2.33 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Quanex Building Products
A number of hedge funds have recently bought and sold shares of the business. Linden Thomas Advisory Services LLC grew its holdings in shares of Quanex Building Products by 1.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock valued at $1,702,000 after buying an additional 1,000 shares in the last quarter. EMC Capital Management raised its position in Quanex Building Products by 55.9% during the first quarter. EMC Capital Management now owns 9,448 shares of the construction company’s stock valued at $363,000 after acquiring an additional 3,387 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Quanex Building Products by 14.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock valued at $363,000 after purchasing an additional 1,171 shares in the last quarter. Shell Asset Management Co. acquired a new position in Quanex Building Products during the first quarter worth $145,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of Quanex Building Products by 4.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock worth $1,145,000 after buying an additional 1,390 shares during the last quarter. Institutional investors and hedge funds 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.
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