Quanex Building Products Co. (NYSE:NX) Short Interest Update

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Quanex Building Products Co. (NYSE:NX) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 1,130,000 shares, a drop of 5.0% from the April 30th total of 1,190,000 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average trading volume of 260,300 shares, the days-to-cover ratio is currently 4.3 days.

A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Quanex Building Products from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Saturday. Sidoti decreased their price objective on Quanex Building Products from $19.00 to $16.00 and set a “buy” rating for the company in a report on Friday, May 8th. TheStreet downgraded Quanex Building Products from a “c-” rating to a “d+” rating in a report on Monday, March 30th. Finally, Benchmark assumed coverage on Quanex Building Products in a report on Thursday, April 2nd. They issued a “buy” rating and a $13.00 price objective for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $15.50.

Several large investors have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Quanex Building Products by 179.4% during the first quarter. AQR Capital Management LLC now owns 294,739 shares of the construction company’s stock valued at $2,971,000 after acquiring an additional 189,235 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Quanex Building Products by 13.8% during the first quarter. Invesco Ltd. now owns 159,697 shares of the construction company’s stock valued at $1,610,000 after acquiring an additional 19,324 shares in the last quarter. Atom Investors LP bought a new position in shares of Quanex Building Products during the first quarter valued at $145,000. Thrivent Financial for Lutherans increased its holdings in shares of Quanex Building Products by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 27,793 shares of the construction company’s stock valued at $280,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Quanex Building Products by 47.3% during the first quarter. Wells Fargo & Company MN now owns 2,291,475 shares of the construction company’s stock valued at $23,098,000 after acquiring an additional 736,197 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

NX opened at $11.64 on Friday. Quanex Building Products has a 12-month low of $7.90 and a 12-month high of $20.42. The company has a current ratio of 1.91, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $15.65. The company has a market cap of $381.54 million, a price-to-earnings ratio of -8.89 and a beta of 1.57.

Quanex Building Products (NYSE:NX) last issued its quarterly earnings results on Thursday, March 5th. The construction company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.10. Quanex Building Products had a positive return on equity of 10.18% and a negative net margin of 4.82%. The firm had revenue of $196.60 million during the quarter, compared to the consensus estimate of $189.90 million. During the same period last year, the company earned ($0.07) earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, analysts predict that Quanex Building Products will post 1 EPS for the current year.

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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