Equities researchers at Sidoti initiated coverage on shares of Quanex Building Products Corporation (NYSE:NX) in a research note issued on Monday, The Fly reports. The firm set a “buy” rating on the construction company’s stock.

A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Wedbush reissued an “outperform” rating and set a $25.00 target price on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.75.

Quanex Building Products Corporation (NYSE:NX) traded up 1.41% during mid-day trading on Monday, hitting $21.65. 201,904 shares of the company were exchanged. Quanex Building Products Corporation has a 12-month low of $15.40 and a 12-month high of $22.65. The company’s 50-day moving average is $21.28 and its 200 day moving average is $20.24. The company’s market capitalization is $739.50 million.

Quanex Building Products Corporation (NYSE:NX) last announced its earnings results on Tuesday, May 30th. The construction company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. Quanex Building Products Corporation had a negative net margin of 0.09% and a positive return on equity of 7.70%. The business had revenue of $209.10 million during the quarter, compared to the consensus estimate of $205.27 million. During the same quarter last year, the firm earned $0.11 earnings per share. Quanex Building Products Corporation’s quarterly revenue was down 8.9% on a year-over-year basis. Analysts expect that Quanex Building Products Corporation will post $0.78 EPS for the current year.

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In related news, SVP Kevin P. Delaney sold 59,700 shares of Quanex Building Products Corporation stock in a transaction 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 owns 133,471 shares of the company’s stock, valued at $2,849,605.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin P. Delaney sold 13,642 shares of Quanex Building Products Corporation stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $21.01, for a total transaction of $286,618.42. Following the transaction, the senior vice president now directly owns 111,991 shares of the company’s stock, valued at approximately $2,352,930.91. The disclosure for this sale can be found here. Insiders have sold 104,809 shares of company stock valued at $2,230,713 in the last three months. 5.32% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in NX. Victory Capital Management Inc. increased its position in shares of Quanex Building Products Corporation by 0.6% in the second quarter. Victory Capital Management Inc. now owns 1,968,908 shares of the construction company’s stock worth $41,642,000 after buying an additional 12,501 shares in the last quarter. Cooke & Bieler LP increased its stake in Quanex Building Products Corporation by 2.8% in the second quarter. Cooke & Bieler LP now owns 2,181,942 shares of the construction company’s stock valued at $46,148,000 after buying an additional 58,578 shares during the period. BNP Paribas Arbitrage SA increased its stake in Quanex Building Products Corporation by 36.5% in the second quarter. BNP Paribas Arbitrage SA now owns 10,833 shares of the construction company’s stock valued at $229,000 after buying an additional 2,895 shares during the period. Legal & General Group Plc increased its stake in Quanex Building Products Corporation by 8.4% in the second quarter. Legal & General Group Plc now owns 63,949 shares of the construction company’s stock valued at $1,352,000 after buying an additional 4,931 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Quanex Building Products Corporation during the second quarter valued at $314,000. 98.96% of the stock is owned by institutional investors and hedge funds.

Quanex Building Products Corporation Company Profile

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