Louisiana State Employees Retirement System trimmed its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 14.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,211 shares of the construction company’s stock after selling 2,289 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Quanex Building Products were worth $180,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in Quanex Building Products by 165.2% in the third quarter. Pacer Advisors Inc. now owns 6,352 shares of the construction company’s stock worth $116,000 after purchasing an additional 3,957 shares during the last quarter. North Star Investment Management Corp. purchased a new position in Quanex Building Products in the fourth quarter worth $122,000. Jefferies Group LLC purchased a new position in Quanex Building Products in the third quarter worth $186,000. Stone Ridge Asset Management LLC grew its holdings in Quanex Building Products by 42.9% in the third quarter. Stone Ridge Asset Management LLC now owns 22,151 shares of the construction company’s stock worth $403,000 after purchasing an additional 6,645 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its holdings in Quanex Building Products by 51.6% in the third quarter. MetLife Investment Advisors LLC now owns 26,831 shares of the construction company’s stock worth $488,000 after purchasing an additional 9,134 shares during the last quarter. 98.82% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on NX. TheStreet lowered shares of Quanex Building Products from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. Sidoti dropped their price objective on shares of Quanex Building Products to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, December 11th. Zacks Investment Research lowered shares of Quanex Building Products from a “hold” rating to a “sell” rating in a report on Saturday, December 22nd. Finally, CJS Securities raised shares of Quanex Building Products from a “market perform” rating to an “outperform” rating in a report on Wednesday, December 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. Quanex Building Products presently has an average rating of “Hold” and a consensus target price of $17.50.
In related news, Director Joseph D. Rupp acquired 30,000 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were purchased at an average cost of $12.99 per share, with a total value of $389,700.00. Following the completion of the acquisition, the director now directly owns 25,421 shares of the company’s stock, valued at $330,218.79. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 5.59% of the stock is owned by insiders.
Shares of NX opened at $16.30 on Friday. The firm has a market cap of $546.07 million, a PE ratio of 25.08 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.18 and a current ratio of 1.85. Quanex Building Products Co. has a 1-year low of $10.70 and a 1-year high of $20.30.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Monday, December 10th. The construction company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.21). The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $246.16 million. Quanex Building Products had a net margin of 2.96% and a return on equity of 5.40%. Quanex Building Products’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 earnings per share. Sell-side analysts anticipate that Quanex Building Products Co. will post 0.67 EPS for the current fiscal year.
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, and precision-formed metal and wood products, as well as cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry.
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