Quanex Building Products (NYSE:NX) Stock Rating Reaffirmed by Benchmark

Quanex Building Products (NYSE:NX – Get Rating)‘s stock had its “buy” rating reiterated by Benchmark in a report issued on Tuesday, Benzinga reports. They currently have a $28.00 price target on the construction company’s stock. Benchmark’s price target suggests a potential upside of 41.63% from the company’s previous close.

Separately, StockNews.com cut Quanex Building Products from a “strong-buy” rating to a “hold” rating in a report on Monday.

Quanex Building Products Stock Down 0.6 %

Shares of NX opened at $19.77 on Tuesday. The stock has a market capitalization of $657.15 million, a price-to-earnings ratio of 8.27 and a beta of 1.37. Quanex Building Products has a 1 year low of $18.00 and a 1 year high of $27.04. The business’s 50 day simple moving average is $25.02 and its 200-day simple moving average is $23.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.22 and a quick ratio of 1.16.

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

Insider Activity at Quanex Building Products

In related news, SVP Paul Cornett sold 2,000 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. Following the sale, the senior vice president now owns 37,627 shares in the company, valued at approximately $940,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 2,704 shares of company stock worth $69,012. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Quanex Building Products

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Quanex Building Products by 4.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,969,093 shares of the construction company’s stock worth $93,988,000 after purchasing an additional 162,588 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Quanex Building Products by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,797,308 shares of the construction company’s stock valued at $68,959,000 after acquiring an additional 16,153 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Quanex Building Products by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,514,370 shares of the construction company’s stock valued at $59,541,000 after acquiring an additional 62,685 shares during the period. Renaissance Technologies LLC lifted its holdings in Quanex Building Products by 4.2% in the second quarter. Renaissance Technologies LLC now owns 1,365,007 shares of the construction company’s stock valued at $31,054,000 after acquiring an additional 54,600 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its holdings in Quanex Building Products by 2.8% in the third quarter. Segall Bryant & Hamill LLC now owns 1,264,927 shares of the construction company’s stock valued at $22,970,000 after acquiring an additional 34,946 shares during the period. Hedge funds and other institutional investors own 98.49% of the company’s stock.

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.