Quanex Building Products Corporation (NX) Earns “Hold” Rating from KeyCorp

Quanex Building Products Corporation (NYSE:NX)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a research report issued to clients and investors on Friday, October 27th.

NX has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. BidaskClub lowered Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Sidoti assumed coverage on Quanex Building Products Corporation in a report on Monday, August 7th. They issued a “buy” rating on the stock. Zacks Investment Research raised Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, TheStreet raised Quanex Building Products Corporation from a “c” rating to a “b-” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of C$24.00.

Quanex Building Products Corporation (NX) traded down C$0.05 during midday trading on Friday, reaching C$21.40. The company’s stock had a trading volume of 63,300 shares, compared to its average volume of 137,099. The company has a market cap of $737.09, a PE ratio of 25.18 and a beta of 0.70. 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 has a 12-month low of C$16.45 and a 12-month high of C$23.60.

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

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In related news, VP Brent L. Korb sold 17,500 shares of the company’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of C$21.15, for a total transaction of C$370,125.00. Following the completion of the sale, the vice president now directly owns 94,679 shares in the company, valued at approximately C$2,002,460.85. The sale was disclosed in a filing with the SEC, which is available through this link. 5.32% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its stake in Quanex Building Products Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 4,732,378 shares of the company’s stock valued at $100,089,000 after acquiring an additional 40,778 shares during the period. Vanguard Group Inc. boosted its position in shares of Quanex Building Products Corporation by 3.4% during the second quarter. Vanguard Group Inc. now owns 3,131,357 shares of the company’s stock valued at $66,228,000 after buying an additional 104,038 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Quanex Building Products Corporation by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,859,309 shares of the company’s stock valued at $60,474,000 after buying an additional 111,005 shares during the last quarter. Cooke & Bieler LP boosted its position in shares of Quanex Building Products Corporation by 2.8% during the second quarter. Cooke & Bieler LP now owns 2,181,942 shares of the company’s stock valued at $46,148,000 after buying an additional 58,578 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Quanex Building Products Corporation by 0.6% during the second quarter. Victory Capital Management Inc. now owns 1,968,908 shares of the company’s stock valued at $41,642,000 after buying an additional 12,501 shares during the last quarter. Institutional investors own 99.27% of the company’s stock.

About Quanex Building Products Corporation

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