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

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

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

Quanex Building Products Stock Performance

Shares of NYSE:NX opened at $29.84 on Thursday. The firm has a market capitalization of $1.41 billion, a PE ratio of 13.11, a P/E/G ratio of 0.70 and a beta of 1.25. Quanex Building Products has a 12 month low of $24.85 and a 12 month 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. The business has a 50-day moving average of $29.22 and a two-hundred day moving average of $29.35.

Quanex Building Products (NYSE:NX) last posted its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The firm had revenue of $280.35 million during the quarter, compared to the consensus estimate of $278.00 million. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, research analysts forecast that Quanex Building Products will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Quanex Building Products

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Quanex Building Products by 4.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,347,818 shares of the construction company’s stock valued at $92,902,000 after purchasing an additional 147,444 shares during the period. State Street Corp boosted its stake in shares of 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 during the period. Pacer Advisors Inc. grew its holdings in Quanex Building Products by 14.6% during the 2nd 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 increased its stake in Quanex Building Products by 0.5% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,202,258 shares of the construction company’s stock worth $33,363,000 after buying an additional 6,566 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Quanex Building Products by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock worth $32,058,000 after buying an additional 3,400 shares in the last quarter. 97.48% of the stock is owned by institutional investors and hedge funds.

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.