Fisher Asset Management LLC reduced its holdings in Quanex Building Products Co. (NYSE:NX) by 28.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,017 shares of the construction company’s stock after selling 33,353 shares during the quarter. Fisher Asset Management LLC owned 0.24% of Quanex Building Products worth $1,529,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in NX. Bank of Montreal Can raised its holdings in shares of Quanex Building Products by 35.0% during the third quarter. Bank of Montreal Can now owns 120,299 shares of the construction company’s stock valued at $2,189,000 after acquiring an additional 31,176 shares during the period. Northern Trust Corp raised its holdings in shares of Quanex Building Products by 1.2% during the second quarter. Northern Trust Corp now owns 446,028 shares of the construction company’s stock valued at $8,006,000 after acquiring an additional 5,164 shares during the period. WealthTrust Fairport LLC acquired a new stake in shares of Quanex Building Products during the second quarter valued at approximately $772,000. California Public Employees Retirement System raised its holdings in shares of Quanex Building Products by 32.6% during the second quarter. California Public Employees Retirement System now owns 79,306 shares of the construction company’s stock valued at $1,424,000 after acquiring an additional 19,504 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Quanex Building Products by 102.0% during the second quarter. Millennium Management LLC now owns 83,097 shares of the construction company’s stock valued at $1,492,000 after acquiring an additional 41,962 shares during the period. Institutional investors and hedge funds own 98.42% of the company’s stock.
Shares of NX opened at $15.40 on Friday. Quanex Building Products Co. has a 52 week low of $14.68 and a 52 week high of $24.60. The company has a market cap of $536.26 million, a P/E ratio of 20.00 and a beta of 0.61. The company has a current ratio of 1.98, a quick ratio of 1.07 and a debt-to-equity ratio of 0.46.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings data 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 firm had revenue of $239.82 million for the quarter, compared to the consensus estimate of $237.92 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Quanex Building Products Co. will post 0.83 EPS for the current year.
A number of research analysts recently commented on the stock. ValuEngine downgraded shares of Quanex Building Products from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. TheStreet raised shares of Quanex Building Products from a “c” rating to a “b-” rating in a research report on Thursday, September 27th. Finally, Zacks Investment Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Saturday, September 8th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Quanex Building Products presently has a consensus rating of “Hold” and an average price target of $22.50.
In related news, CFO Brent L. Korb sold 11,800 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 152,805 shares of the company’s stock, valued at $2,943,024.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.32% of the company’s stock.
About Quanex Building Products
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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