Posted by admin on May 10th, 2022
Quanex Building Products (NYSE:NX – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.
According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “
Separately, StockNews.com assumed coverage on shares of Quanex Building Products in a research report on Thursday, March 31st. They set a “buy” rating for the company.
Quanex Building Products stock opened at $19.85 on Tuesday. The company’s 50-day moving average price is $21.43. The company has a current ratio of 1.98, a quick ratio of 1.08 and a debt-to-equity ratio of 0.18. The stock has a market cap of $662.77 million, a P/E ratio of 11.03 and a beta of 1.49. Quanex Building Products has a fifty-two week low of $19.01 and a fifty-two week high of $29.02.
Quanex Building Products (NYSE:NX – Get Rating) last issued its earnings results on Thursday, March 3rd. The construction company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. Quanex Building Products had a return on equity of 14.80% and a net margin of 5.44%. The firm had revenue of $267.04 million for the quarter, compared to analyst estimates of $243.70 million. During the same quarter in the prior year, the firm earned $0.27 earnings per share. Analysts expect that Quanex Building Products will post 1.93 EPS for the current fiscal year.
In other news, Director Susan F. Davis sold 5,987 shares of Quanex Building Products stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $23.02, for a total transaction of $137,820.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.57% of the company’s stock.
Several large investors have recently bought and sold shares of NX. FMR LLC increased its position in shares of Quanex Building Products by 591.7% in the first quarter. FMR LLC now owns 1,757 shares of the construction company’s stock valued at $28,000 after buying an additional 1,503 shares in the last quarter. Morgan Stanley raised its position in Quanex Building Products by 20.9% during the second quarter. Morgan Stanley now owns 366,689 shares of the construction company’s stock worth $9,110,000 after acquiring an additional 63,512 shares during the period. Victory Capital Management Inc. lifted its holdings in Quanex Building Products by 3.3% during the third quarter. Victory Capital Management Inc. now owns 32,681 shares of the construction company’s stock valued at $700,000 after purchasing an additional 1,047 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Quanex Building Products by 103.7% in the third quarter. Russell Investments Group Ltd. now owns 173,820 shares of the construction company’s stock valued at $3,719,000 after purchasing an additional 88,476 shares during the period. Finally, Swiss National Bank increased its stake in shares of Quanex Building Products by 1.4% during the third quarter. Swiss National Bank now owns 74,400 shares of the construction company’s stock worth $1,593,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 97.43% of the company’s stock.
Quanex Building Products Company Profile (Get Rating)
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, Europe, Canada, Asia, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.
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