ClariVest Asset Management LLC Sells 18,700 Shares of Quanex Building Products Corporation (NX)

ClariVest Asset Management LLC lowered its position in Quanex Building Products Corporation (NYSE:NX) by 45.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,200 shares of the construction company’s stock after selling 18,700 shares during the quarter. ClariVest Asset Management LLC owned about 0.06% of Quanex Building Products Corporation worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State of Alaska Department of Revenue grew its holdings in Quanex Building Products Corporation by 77.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the construction company’s stock valued at $142,000 after buying an additional 2,946 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Quanex Building Products Corporation by 36.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock valued at $229,000 after buying an additional 2,895 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Quanex Building Products Corporation by 59.1% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock valued at $297,000 after buying an additional 4,800 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Quanex Building Products Corporation during the 3rd quarter valued at about $299,000. Finally, SG Americas Securities LLC purchased a new position in Quanex Building Products Corporation during the 2nd quarter valued at about $314,000. 99.62% of the stock is owned by institutional investors.

In related news, VP Brent L. Korb sold 17,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $21.15, for a total value of $370,125.00. Following the completion of the sale, the vice president now owns 94,679 shares in the company, valued at approximately $2,002,460.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.32% of the company’s stock.

Shares of Quanex Building Products Corporation (NYSE NX) opened at $21.35 on Wednesday. The firm has a market capitalization of $728.48, a P/E ratio of 24.88 and a beta of 0.70. Quanex Building Products Corporation has a 12-month low of $17.45 and a 12-month high of $23.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.79 and a quick ratio of 0.93.

Quanex Building Products Corporation (NYSE:NX) last released its earnings results on Wednesday, September 6th. The construction company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.01). The firm had revenue of $229.40 million during the quarter, compared to the consensus estimate of $235.45 million. Quanex Building Products Corporation had a return on equity of 7.87% and a net margin of 1.52%. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.27 EPS. analysts expect that Quanex Building Products Corporation will post 0.85 earnings per share for the current fiscal year.

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NX has been the subject of a number of recent analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Quanex Building Products Corporation in a report on Friday, October 27th. Wedbush upgraded Quanex Building Products Corporation from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $25.00 to $24.00 in a research report on Friday, September 8th. Zacks Investment Research downgraded Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. BidaskClub downgraded Quanex Building Products Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. Finally, Sidoti initiated coverage on Quanex Building Products Corporation in a research report on Monday, August 7th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Quanex Building Products Corporation presently has a consensus rating of “Hold” and a consensus price target of $24.00.

Quanex Building Products Corporation Profile

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Institutional Ownership by Quarter for Quanex Building Products Corporation (NYSE:NX)

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