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

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

Separately, Benchmark reissued a “buy” rating and set a $38.00 price target on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Stock Up 8.5 %

Shares of NX stock opened at $25.10 on Friday. The stock has a fifty day moving average price of $29.36 and a 200 day moving average price of $28.80. The stock has a market cap of $1.19 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. Quanex Building Products has a one year low of $22.92 and a one 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.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings data on Thursday, December 12th. The construction company reported $0.61 earnings per share for the quarter, topping 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 previous year, the business earned $0.95 EPS. Analysts predict that Quanex Building Products will post 2.26 earnings per share for the current year.

Insider Activity at Quanex Building Products

In related news, CEO George Laverne Wilson bought 4,328 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average price of $23.03 per share, with a total value of $99,673.84. Following the completion of the transaction, the chief executive officer now owns 287,644 shares in the company, valued at $6,624,441.32. The trade was a 1.53 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.15% of the stock is owned by insiders.

Hedge Funds Weigh In On Quanex Building Products

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Quanex Building Products by 65.4% during the 3rd quarter. GAMMA Investing LLC now owns 994 shares of the construction company’s stock worth $28,000 after buying an additional 393 shares during the last quarter. Quarry LP lifted its position in Quanex Building Products by 150.8% during the third quarter. Quarry LP now owns 1,126 shares of the construction company’s stock worth $31,000 after acquiring an additional 677 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Quanex Building Products during the third quarter worth approximately $37,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Quanex Building Products by 69.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,477 shares of the construction company’s stock worth $41,000 after acquiring an additional 605 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Quanex Building Products in the second quarter valued at approximately $46,000. 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.