Quanex Building Products (NYSE:NX) Downgraded by StockNews.com

Quanex Building Products (NYSE:NX – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Benchmark reissued a “buy” rating and set a $31.00 price target on shares of Quanex Building Products in a report on Tuesday, March 7th.

Quanex Building Products Price Performance

Shares of NYSE:NX opened at $19.97 on Monday. The company has a 50-day simple moving average of $25.18 and a 200-day simple moving average of $23.10. Quanex Building Products has a one year low of $18.00 and a one year high of $27.04. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 2.22. The stock has a market capitalization of $663.80 million, a price-to-earnings ratio of 8.36 and a beta of 1.37.

Quanex Building Products (NYSE:NX – Get Rating) last announced its earnings results on Thursday, December 15th. The construction company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.18. Quanex Building Products had a net margin of 6.50% and a return on equity of 18.33%. The business had revenue of $307.53 million during the quarter, compared to analysts’ expectations of $304.40 million.

Insider Buying and Selling

In related news, SVP Paul Cornett sold 2,000 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $25.00, for a total transaction of $50,000.00. Following the completion of the transaction, the senior vice president now directly owns 37,627 shares of the company’s stock, valued at $940,675. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,704 shares of company stock valued at $69,012 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its position in Quanex Building Products by 229.6% during the third quarter. Rockefeller Capital Management L.P. now owns 1,661 shares of the construction company’s stock worth $30,000 after buying an additional 1,157 shares during the period. State of Wyoming grew its position in Quanex Building Products by 40.4% during the fourth quarter. State of Wyoming now owns 1,435 shares of the construction company’s stock worth $34,000 after buying an additional 413 shares during the period. Point72 Hong Kong Ltd grew its position in shares of Quanex Building Products by 494.3% in the third quarter. Point72 Hong Kong Ltd now owns 2,187 shares of the construction company’s stock valued at $40,000 after purchasing an additional 1,819 shares during the last quarter. Captrust Financial Advisors grew its position in shares of Quanex Building Products by 63.1% in the first quarter. Captrust Financial Advisors now owns 2,316 shares of the construction company’s stock valued at $49,000 after purchasing an additional 896 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Quanex Building Products by 139.2% in the third quarter. Tower Research Capital LLC TRC now owns 3,600 shares of the construction company’s stock valued at $66,000 after purchasing an additional 2,095 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors and hedge funds.

About Quanex Building Products

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Quanex Building Products Corp. engages in the manufacture of components sold to original equipment manufacturers in the building products industry. It also designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. The firm operates through the following segments: North American Fenestration, European Fenestration, North American Cabinet Components, and Unallocated Corporate and Other.