Quanex Building Products (NYSE:NX) Downgraded to Market Perform at CJS Securities

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Quanex Building Products (NYSE:NX) was downgraded by equities researchers at CJS Securities from an “outperform” rating to a “market perform” rating in a report released on Tuesday, The Fly reports.

Separately, Zacks Investment Research raised shares of Quanex Building Products from a “sell” rating to a “hold” rating in a report on Thursday, December 5th.

NYSE NX opened at $19.54 on Tuesday. Quanex Building Products has a 52 week low of $10.70 and a 52 week high of $19.75. The company has a quick ratio of 1.17, a current ratio of 2.15 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $19.10 and its 200-day simple moving average is $18.12. The firm has a market cap of $641.35 million, a PE ratio of 30.06 and a beta of 1.23.

In other news, SVP Paul Cornett sold 1,500 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $19.23, for a total value of $28,845.00. Following the transaction, the senior vice president now owns 13,197 shares of the company’s stock, valued at approximately $253,778.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Susan F. Davis sold 8,132 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $19.04, for a total value of $154,833.28. Following the completion of the transaction, the director now directly owns 33,314 shares in the company, valued at approximately $634,298.56. The disclosure for this sale can be found here. In the last three months, insiders sold 42,032 shares of company stock valued at $804,786. Corporate insiders own 5.98% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in Quanex Building Products by 10.2% in the 3rd quarter. Pacer Advisors Inc. now owns 13,825 shares of the construction company’s stock valued at $250,000 after purchasing an additional 1,281 shares during the last quarter. California State Teachers Retirement System increased its stake in Quanex Building Products by 2.7% during the third quarter. California State Teachers Retirement System now owns 52,177 shares of the construction company’s stock worth $943,000 after purchasing an additional 1,372 shares during the period. FMR LLC lifted its position in shares of Quanex Building Products by 591.7% during the first quarter. FMR LLC now owns 1,757 shares of the construction company’s stock worth $28,000 after purchasing an additional 1,503 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Quanex Building Products by 7.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 24,868 shares of the construction company’s stock valued at $450,000 after purchasing an additional 1,772 shares during the period. Finally, State of Tennessee Treasury Department grew its holdings in shares of Quanex Building Products by 9.2% in the third quarter. State of Tennessee Treasury Department now owns 37,121 shares of the construction company’s stock valued at $671,000 after purchasing an additional 3,129 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

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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