StockNews.com Downgrades Quanex Building Products (NYSE:NX) to Hold

Quanex Building Products (NYSE:NX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Quanex Building Products Price Performance

NX traded down $0.87 during trading hours on Tuesday, hitting $26.17. The company’s stock had a trading volume of 916,215 shares, compared to its average volume of 327,198. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. Quanex Building Products has a 12 month low of $24.85 and a 12 month high of $39.31. The business’s 50-day moving average price is $28.67 and its 200-day moving average price is $31.93. The stock has a market cap of $866.49 million, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.93 and a beta of 1.27.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings data on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The business had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the previous year, the business posted $0.97 earnings per share. Sell-side analysts expect that Quanex Building Products will post 2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors and hedge funds have recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in Quanex Building Products during the 2nd quarter valued at approximately $46,000. nVerses Capital LLC lifted its stake in shares of Quanex Building Products by 900.0% in the second quarter. nVerses Capital LLC now owns 2,000 shares of the construction company’s stock worth $55,000 after buying an additional 1,800 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Quanex Building Products by 157.1% during the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after purchasing an additional 1,090 shares during the last quarter. Quest Partners LLC lifted its position in Quanex Building Products by 9,011.1% during the second quarter. Quest Partners LLC now owns 3,280 shares of the construction company’s stock worth $91,000 after buying an additional 3,244 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Quanex Building Products in the 2nd quarter valued at $101,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

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.