Quanex (NYSE:NX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, August 1st.
Separately, Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Quanex in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Quanex currently has a consensus rating of “Hold” and a consensus price target of $22.50.
Shares of NX stock traded down $0.05 during trading hours on Tuesday, reaching $17.45. The company had a trading volume of 103,978 shares, compared to its average volume of 208,574. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.93 and a quick ratio of 0.90. The firm has a market capitalization of $613.73, a PE ratio of 22.66 and a beta of 0.81. Quanex has a 12-month low of $16.50 and a 12-month high of $24.60.
In other Quanex news, Director Joseph D. Rupp sold 10,000 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $17.71, for a total transaction of $177,100.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $177,100. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.32% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Quanex by 8.2% in the fourth quarter. State Street Corp now owns 739,835 shares of the construction company’s stock valued at $15,020,000 after acquiring an additional 56,039 shares in the last quarter. Guggenheim Capital LLC acquired a new stake in shares of Quanex in the fourth quarter valued at $1,641,000. Norges Bank acquired a new stake in shares of Quanex in the fourth quarter valued at $9,480,000. Louisiana State Employees Retirement System raised its stake in shares of Quanex by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the construction company’s stock valued at $284,000 after acquiring an additional 200 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Quanex by 32.6% in the first quarter. Fisher Asset Management LLC now owns 85,454 shares of the construction company’s stock valued at $1,730,000 after acquiring an additional 20,990 shares in the last quarter.
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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; cabinet doors and other components for original equipment manufacturers (OEMs) in the kitchen and bathroom cabinet industry; and precision-formed metal and wood products, as well as solar panel sealants, trim moldings, vinyl decking and fencing products, water retention barriers, and conservatory roof components.
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