Quanex Building Products Co. (NX) Position Reduced by Systematic Financial Management LP

Systematic Financial Management LP trimmed its holdings in shares of Quanex Building Products Co. (NYSE:NX) by 8.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 72,080 shares of the construction company’s stock after selling 6,885 shares during the period. Systematic Financial Management LP’s holdings in Quanex Building Products were worth $1,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the stock. Huntington National Bank bought a new position in shares of Quanex Building Products in the 4th quarter worth approximately $29,000. Meeder Asset Management Inc. purchased a new stake in shares of Quanex Building Products in the 4th quarter worth approximately $41,000. O Shaughnessy Asset Management LLC purchased a new stake in shares of Quanex Building Products in the 4th quarter worth approximately $50,000. Quantamental Technologies LLC purchased a new stake in shares of Quanex Building Products in the 4th quarter worth approximately $57,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Quanex Building Products by 191.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,727 shares of the construction company’s stock worth $123,000 after buying an additional 5,075 shares during the last quarter. Institutional investors and hedge funds own 95.07% of the company’s stock.

Several analysts have commented on NX shares. Zacks Investment Research upgraded Quanex Building Products from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. Seaport Global Securities started coverage on Quanex Building Products in a research note on Friday, March 15th. They set a “buy” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Quanex Building Products has an average rating of “Hold” and an average price target of $17.00.

NX traded down $0.08 during trading on Monday, hitting $15.91. 181 shares of the company’s stock traded hands, compared to its average volume of 116,093. The company has a current ratio of 2.48, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. Quanex Building Products Co. has a 12-month low of $10.70 and a 12-month high of $20.30. The company has a market cap of $532.36 million, a price-to-earnings ratio of 24.48 and a beta of 1.07.

Quanex Building Products (NYSE:NX) last issued its earnings results on Tuesday, March 5th. The construction company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. The business had revenue of $196.81 million for the quarter, compared to the consensus estimate of $195.80 million. Quanex Building Products had a return on equity of 5.32% and a net margin of 1.98%. As a group, research analysts forecast that Quanex Building Products Co. will post 0.76 EPS for the current year.

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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.

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

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