Quanex Building Products (NYSE:NX) Shares Down 2.6% – What’s Next?

Quanex Building Products Co. (NYSE:NX) fell 2.6% during mid-day trading on Wednesday . The stock traded as low as $30.06 and last traded at $30.06. 20,017 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 350,585 shares. The stock had previously closed at $30.87.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Quanex Building Products from a “buy” rating to a “hold” rating in a report on Thursday. Benchmark reissued a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th.

Quanex Building Products Stock Performance

The company’s 50-day moving average is $29.22 and its two-hundred day moving average is $29.36. The company has a market capitalization of $1.36 billion, a P/E ratio of 12.80, a PEG ratio of 0.70 and a beta of 1.25. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.09.

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

Hedge Funds Weigh In On Quanex Building Products

Hedge funds and other institutional investors have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Quanex Building Products by 4.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,815 shares of the construction company’s stock valued at $1,145,000 after buying an additional 1,390 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Quanex Building Products by 14.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,440 shares of the construction company’s stock worth $363,000 after acquiring an additional 1,171 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its holdings in shares of Quanex Building Products by 1.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 61,539 shares of the construction company’s stock worth $1,702,000 after acquiring an additional 1,000 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in shares of Quanex Building Products in the 2nd quarter valued at $270,000. Finally, Summit Global Investments grew its holdings in shares of Quanex Building Products by 17.5% during the 2nd quarter. Summit Global Investments now owns 26,567 shares of the construction company’s stock valued at $735,000 after purchasing an additional 3,953 shares during the last quarter. 97.48% of the stock is currently owned by hedge funds and other institutional investors.

Quanex Building Products Company Profile

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.