Dynamic Technology Lab Private Ltd Trims Stake in Quanex Building Products Co. (NYSE:NX)

Dynamic Technology Lab Private Ltd reduced its position in Quanex Building Products Co. (NYSE:NX) by 16.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,286 shares of the construction company’s stock after selling 5,437 shares during the period. Dynamic Technology Lab Private Ltd owned 0.06% of Quanex Building Products worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. increased its position in Quanex Building Products by 38.7% in the 3rd quarter. Victory Capital Management Inc. now owns 115,210 shares of the construction company’s stock valued at $3,197,000 after acquiring an additional 32,158 shares during the period. Susquehanna International Group Ltd. acquired a new position in Quanex Building Products in the 2nd quarter valued at about $611,000. Farther Finance Advisors LLC increased its position in Quanex Building Products by 10,450.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,110 shares of the construction company’s stock valued at $59,000 after acquiring an additional 2,090 shares during the period. Principal Financial Group Inc. increased its position in Quanex Building Products by 28.8% in the 3rd quarter. Principal Financial Group Inc. now owns 222,522 shares of the construction company’s stock valued at $6,175,000 after acquiring an additional 49,716 shares during the period. Finally, Artemis Investment Management LLP acquired a new position in Quanex Building Products in the 3rd quarter valued at about $15,343,000. 97.48% of the stock is owned by hedge funds and other institutional investors.

Quanex Building Products Stock Performance

NYSE NX opened at $28.81 on Friday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $29.22 and its two-hundred day moving average is $29.36. Quanex Building Products Co. has a 12-month low of $24.85 and a 12-month high of $39.31. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 0.75 and a beta of 1.25.

Quanex Building Products (NYSE:NX) last released its earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The company had revenue of $280.35 million for the quarter, compared to analysts’ expectations of $278.00 million. During the same quarter in the previous year, the firm posted $0.97 EPS. Research analysts expect that Quanex Building Products Co. will post 2.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NX. Benchmark restated a “buy” rating and issued a $38.00 price target on shares of Quanex Building Products in a research report on Wednesday, September 11th. StockNews.com cut Quanex Building Products from a “buy” rating to a “hold” rating in a research report on Thursday.

Quanex Building Products Company Profile

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.