Falcon Point Capital LLC Has $724,000 Position in Quanex Building Products Co. (NX)
Falcon Point Capital LLC trimmed its position in shares of Quanex Building Products Co. (NYSE:NX) by 44.3% during the 4th quarter, Holdings Channel reports. The firm owned 30,948 shares of the construction company’s stock after selling 24,622 shares during the quarter. Falcon Point Capital LLC’s holdings in Quanex Building Products were worth $724,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Wolverine Trading LLC bought a new position in Quanex Building Products in the 3rd quarter worth about $231,000. Teacher Retirement System of Texas bought a new position in Quanex Building Products in the 4th quarter worth about $248,000. Aperio Group LLC bought a new position in Quanex Building Products in the 4th quarter worth about $254,000. Trexquant Investment LP bought a new position in Quanex Building Products in the 3rd quarter worth about $271,000. Finally, Municipal Employees Retirement System of Michigan grew its stake in Quanex Building Products by 59.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,920 shares of the construction company’s stock worth $297,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 98.83% of the company’s stock.
In related news, Director Susan F. Davis sold 10,000 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $22.77, for a total transaction of $227,700.00. Following the completion of the sale, the director now owns 35,182 shares of the company’s stock, valued at $801,094.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dewayne Williams sold 8,100 shares of the stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $23.36, for a total transaction of $189,216.00. Following the sale, the vice president now directly owns 16,672 shares of the company’s stock, valued at approximately $389,457.92. The disclosure for this sale can be found here. Insiders sold a total of 78,921 shares of company stock valued at $1,861,684 in the last ninety days. Corporate insiders own 5.59% of the company’s stock.
Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Monday, December 11th. The construction company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Quanex Building Products had a net margin of 2.16% and a return on equity of 7.00%. The firm had revenue of $233.00 million during the quarter, compared to analysts’ expectations of $232.47 million. During the same quarter in the prior year, the company earned $0.45 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. research analysts expect that Quanex Building Products Co. will post 0.9 earnings per share for the current fiscal year.
A number of equities analysts have commented on NX shares. KeyCorp restated a “hold” rating on shares of Quanex Building Products in a research note on Friday, October 27th. Zacks Investment Research raised shares of Quanex Building Products from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Wedbush cut shares of Quanex Building Products from an “outperform” rating to a “neutral” rating and set a $25.00 price target for the company. in a research report on Monday, December 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Quanex Building Products has an average rating of “Hold” and a consensus price target of $25.00.
Quanex Building Products Company Profile
Quanex Building Products Corporation manufactures components for original equipment manufacturers (OEM) in the building products industry. The Company’s components can be categorized as window and door (fenestration) components, and kitchen and bath cabinet components. The Company operates through three segments: North American Engineered Components (NA Engineered Components), which consists of four operating segments primarily focused on the fenestration market in North America manufacturing vinyl profiles, insulating glass (IG) spacers, screens and other fenestration components; European Engineered Components (EU Engineered Components), which consists of the United Kingdom-based vinyl extrusion business, manufacturing vinyl profiles and conservatories, and the European insulating glass business manufacturing IG spacers, and North American Cabinet Components (NA Cabinet Components), which consists of the North American cabinet door and components business.
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