IndexIQ Advisors LLC Has $1.64 Million Holdings in Quanex Building Products Co. (NX)

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IndexIQ Advisors LLC lessened its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 7.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 120,800 shares of the construction company’s stock after selling 9,846 shares during the quarter. IndexIQ Advisors LLC’s holdings in Quanex Building Products were worth $1,642,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Quanex Building Products by 2.9% in the 3rd quarter. BlackRock Inc. now owns 5,468,740 shares of the construction company’s stock worth $99,531,000 after buying an additional 153,889 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Quanex Building Products by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 3,500,558 shares of the construction company’s stock worth $63,709,000 after buying an additional 75,839 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Quanex Building Products by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 3,500,558 shares of the construction company’s stock worth $63,709,000 after buying an additional 75,839 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Quanex Building Products by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,946,857 shares of the construction company’s stock worth $53,633,000 after buying an additional 14,671 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Quanex Building Products by 30.1% in the 3rd quarter. Wells Fargo & Company MN now owns 1,580,902 shares of the construction company’s stock worth $28,773,000 after buying an additional 365,947 shares in the last quarter. Institutional investors own 98.82% of the company’s stock.

A number of analysts have recently commented on the company. TheStreet downgraded Quanex Building Products from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. Sidoti dropped their price objective on Quanex Building Products to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 11th. Zacks Investment Research downgraded Quanex Building Products from a “hold” rating to a “sell” rating in a research note on Saturday, December 22nd. Finally, CJS Securities raised Quanex Building Products from a “market perform” rating to an “outperform” rating in a research report on Wednesday, December 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Shares of Quanex Building Products stock opened at $16.36 on Tuesday. The firm has a market cap of $546.07 million, a PE ratio of 25.17 and a beta of 1.04. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 0.53. Quanex Building Products Co. has a 12-month low of $10.70 and a 12-month high of $20.30.

Quanex Building Products (NYSE:NX) last announced its earnings results on Monday, December 10th. The construction company reported $0.22 earnings per share (EPS) 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 analyst estimates of $246.16 million. Quanex Building Products had a return on equity of 5.40% and a net margin of 2.96%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities research analysts predict that Quanex Building Products Co. will post 0.67 EPS for the current fiscal year.

In related news, Director Joseph D. Rupp bought 30,000 shares of the business’s stock in a transaction dated Thursday, December 27th. The shares were bought at an average cost of $12.99 per share, with a total value of $389,700.00. Following the completion of the transaction, the director now directly owns 25,421 shares of the company’s stock, valued at $330,218.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.59% of the stock is owned by insiders.

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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.

Further Reading: The Discount Rate – What You Need to Know

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Institutional Ownership by Quarter for Quanex Building Products (NYSE:NX)

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