Point72 Hong Kong Ltd Acquires New Shares in Quanex Building Products Co. (NYSE:NX)

Point72 Hong Kong Ltd bought a new position in Quanex Building Products Co. (NYSE:NX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,325 shares of the construction company’s stock, valued at approximately $37,000.

A number of other hedge funds have also added to or reduced their stakes in NX. Verition Fund Management LLC purchased a new position in shares of Quanex Building Products during the 3rd quarter valued at $337,000. Walleye Capital LLC raised its holdings in shares of Quanex Building Products by 129.4% in the 3rd quarter. Walleye Capital LLC now owns 40,305 shares of the construction company’s stock valued at $1,118,000 after acquiring an additional 22,736 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Quanex Building Products by 34.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 61,768 shares of the construction company’s stock valued at $1,714,000 after acquiring an additional 15,961 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Quanex Building Products by 37.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 100,280 shares of the construction company’s stock valued at $2,783,000 after acquiring an additional 27,425 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Quanex Building Products by 28.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,983 shares of the construction company’s stock worth $360,000 after purchasing an additional 2,837 shares in the last quarter. Hedge funds and other institutional investors own 97.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NX shares. StockNews.com lowered shares of Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Benchmark reaffirmed a “buy” rating and set a $38.00 price objective on shares of Quanex Building Products in a report on Wednesday, September 11th.

Quanex Building Products Price Performance

Shares of Quanex Building Products stock opened at $29.03 on Wednesday. The business’s 50-day moving average price is $29.30 and its 200-day moving average price is $29.21. The firm has a market capitalization of $1.37 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. Quanex Building Products Co. has a 12 month low of $24.85 and a 12 month high of $39.31. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Quanex Building Products had a net margin of 6.88% and a return on equity of 14.68%. The firm had revenue of $280.35 million for the quarter, compared to the consensus estimate of $278.00 million. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts forecast that Quanex Building Products Co. will post 2.1 EPS for the current fiscal year.

About Quanex Building Products

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.