Quanex Building Products (NYSE:NX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Quanex Building Products (NYSE:NX) from a strong-buy rating to a hold rating in a report released on Saturday morning, Zacks.com reports.

According to Zacks, “Quanex Building Products Corporation is an industry-leading manufacturer of components sold to Original Equipment Manufacturers in building products industry. Quanex designs and produces energy-efficient fenestration products in addition to kitchen and bath cabinet components. These components can be categorized as window and door (fenestration) components and kitchen and bath cabinet components. Examples of fenestration components include (1) energy-efficient flexible insulating glass spacers, (2) extruded vinyl profiles, (3) window and door screens, and (4) precision-formed metal and wood products. In addition, Quanex provide certain other non-fenestration components and products, which include solar panel sealants, wood flooring, trim moldings, vinyl decking, fencing, water retention barriers, and conservatory roof components. Quanex use low-cost production processes and engineering expertise to provide customers with specialized products for their specific window, door, and cabinet applications. “

Shares of NYSE NX opened at $17.56 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.30 and a current ratio of 2.32. Quanex Building Products has a 12 month low of $10.70 and a 12 month high of $19.75. The company’s 50 day simple moving average is $18.25. The firm has a market cap of $585.59 million, a PE ratio of 27.02 and a beta of 1.21.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings data on Tuesday, June 4th. The construction company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.12 by $0.07. The business had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $219.53 million. Quanex Building Products had a negative net margin of 1.15% and a positive return on equity of 5.90%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. Sell-side analysts forecast that Quanex Building Products will post 0.85 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Quanex Building Products by 0.5% during the 4th quarter. Principal Financial Group Inc. now owns 285,491 shares of the construction company’s stock valued at $3,880,000 after purchasing an additional 1,556 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Quanex Building Products by 21.7% during the 4th quarter. Millennium Management LLC now owns 388,708 shares of the construction company’s stock valued at $5,283,000 after purchasing an additional 69,250 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Quanex Building Products by 7.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,167 shares of the construction company’s stock valued at $591,000 after purchasing an additional 2,539 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Quanex Building Products by 683.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,785 shares of the construction company’s stock valued at $457,000 after purchasing an additional 25,112 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Quanex Building Products by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,967,331 shares of the construction company’s stock valued at $40,326,000 after purchasing an additional 20,474 shares in the last quarter. 97.67% of the stock is owned by hedge funds and other institutional investors.

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, 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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