Wedge Capital Management L L P NC lessened its stake in Quanex Building Products Co. (NYSE:NX) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 768,143 shares of the construction company’s stock after selling 44,123 shares during the period. Wedge Capital Management L L P NC owned approximately 2.18% of Quanex Building Products worth $13,980,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd purchased a new position in Quanex Building Products in the 2nd quarter worth approximately $105,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Quanex Building Products in the 2nd quarter valued at $147,000. BlueMountain Capital Management LLC boosted its stake in shares of Quanex Building Products by 1,302.9% in the 2nd quarter. BlueMountain Capital Management LLC now owns 9,245 shares of the construction company’s stock valued at $166,000 after purchasing an additional 8,586 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Quanex Building Products in the 1st quarter valued at $220,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Quanex Building Products in the 2nd quarter valued at $250,000. 98.36% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Brent L. Korb sold 11,800 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $19.26, for a total transaction of $227,268.00. Following the completion of the sale, the chief financial officer now directly owns 152,805 shares in the company, valued at approximately $2,943,024.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.59% of the company’s stock.
NYSE:NX opened at $15.54 on Tuesday. Quanex Building Products Co. has a 52 week low of $14.68 and a 52 week high of $24.60. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.98 and a quick ratio of 1.07. The firm has a market cap of $541.54 million, a P/E ratio of 20.18 and a beta of 0.89.
Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 6th. The construction company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.01. Quanex Building Products had a net margin of 3.48% and a return on equity of 6.67%. The company had revenue of $239.82 million during the quarter, compared to analyst estimates of $237.92 million. During the same period in the prior year, the business posted $0.33 EPS. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities research analysts expect that Quanex Building Products Co. will post 0.83 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on NX shares. ValuEngine raised shares of Quanex Building Products from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research note on Saturday, September 8th. Finally, TheStreet cut shares of Quanex Building Products from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. Quanex Building Products presently has an average rating of “Hold” and an average price target of $22.50.
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Quanex Building Products Company Profile
Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry worldwide. It operates through three segments: North American Engineered Components, European Engineered Components, and North American Cabinet Components. The company offers flexible insulating glass spacers; extruded vinyl profiles; window and door screens; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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