Quanex Building Products (NYSE:NX) Cut to “Hold” at StockNews.com

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

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

Quanex Building Products Price Performance

Quanex Building Products stock opened at $28.26 on Friday. Quanex Building Products has a 52 week low of $24.85 and a 52 week high of $39.31. The firm has a market cap of $1.34 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.93 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36. The business’s fifty day moving average is $29.62 and its two-hundred day moving average is $29.03.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter last year, the company posted $0.95 EPS. Equities research analysts forecast that Quanex Building Products will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanex Building Products

Hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Quanex Building Products by 4.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after acquiring an additional 147,444 shares during the last quarter. State Street Corp increased its stake in Quanex Building Products by 28.1% in the third 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 in the last quarter. Pacer Advisors Inc. increased its stake 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 valued at $35,810,000 after purchasing an additional 165,121 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in Quanex Building Products by 0.5% in the third quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after purchasing an additional 6,566 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of 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 worth $32,058,000 after purchasing 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.