Quanex Building Products Corporation (NYSE:NX) Now Covered by Analysts at Sidoti

Sidoti began coverage on shares of Quanex Building Products Corporation (NYSE:NX) in a research report issued on Monday, August 7th. The brokerage set a “buy” rating on the construction company’s stock.

Several other research analysts have also recently issued reports on NX. BidaskClub cut shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Wedbush reissued an “outperform” rating and set a $25.00 price objective on shares of Quanex Building Products Corporation in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Quanex Building Products Corporation has a consensus rating of “Hold” and an average price target of $23.75.

Shares of Quanex Building Products Corporation (NYSE NX) traded up 1.58% during midday trading on Monday, reaching $19.25. 183,950 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $21.02 and a 200-day moving average of $20.26. The stock’s market capitalization is $657.52 million. Quanex Building Products Corporation has a 12-month low of $15.41 and a 12-month high of $22.65.

Quanex Building Products Corporation (NYSE:NX) last issued its earnings results on Tuesday, May 30th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.06. The business had revenue of $209.10 million during the quarter, compared to analysts’ expectations of $205.27 million. Quanex Building Products Corporation had a negative net margin of 0.09% and a positive return on equity of 7.70%. The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share. Analysts anticipate that Quanex Building Products Corporation will post $0.79 EPS for the current fiscal year.

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In other news, SVP Kevin P. Delaney sold 59,700 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $21.35, for a total transaction of $1,274,595.00. Following the completion of the transaction, the senior vice president now directly owns 133,471 shares of the company’s stock, valued at $2,849,605.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin P. Delaney sold 9,971 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $21.53, for a total transaction of $214,675.63. Following the transaction, the senior vice president now directly owns 113,442 shares of the company’s stock, valued at $2,442,406.26. The disclosure for this sale can be found here. Insiders have sold 104,809 shares of company stock valued at $2,230,713 over the last three months. 5.32% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc. raised its stake in shares of Quanex Building Products Corporation by 5.6% in the first quarter. TD Asset Management Inc. now owns 38,970 shares of the construction company’s stock valued at $789,000 after buying an additional 2,070 shares during the period. Arizona State Retirement System raised its stake in shares of Quanex Building Products Corporation by 1.7% in the first quarter. Arizona State Retirement System now owns 17,936 shares of the construction company’s stock valued at $363,000 after buying an additional 300 shares during the period. Cooke & Bieler LP raised its stake in shares of Quanex Building Products Corporation by 2.1% in the first quarter. Cooke & Bieler LP now owns 2,123,364 shares of the construction company’s stock valued at $42,998,000 after buying an additional 43,640 shares during the period. Prudential Financial Inc. raised its stake in shares of Quanex Building Products Corporation by 0.6% in the first quarter. Prudential Financial Inc. now owns 58,566 shares of the construction company’s stock valued at $1,186,000 after buying an additional 340 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of Quanex Building Products Corporation during the first quarter valued at about $4,360,000. Institutional investors own 99.45% of the company’s stock.

About Quanex Building Products Corporation

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