State of Alaska Department of Revenue boosted its stake in Quanex Building Products Corporation (NYSE:NX) by 77.5% during the second quarter, Holdings Channel reports. The fund owned 6,746 shares of the construction company’s stock after buying an additional 2,946 shares during the period. State of Alaska Department of Revenue’s holdings in Quanex Building Products Corporation were worth $142,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in Quanex Building Products Corporation by 5.3% in the first quarter. BNP Paribas Arbitrage SA now owns 7,938 shares of the construction company’s stock valued at $161,000 after buying an additional 403 shares in the last quarter. Mason Street Advisors LLC increased its stake in Quanex Building Products Corporation by 7.6% in the first quarter. Mason Street Advisors LLC now owns 8,045 shares of the construction company’s stock valued at $163,000 after buying an additional 568 shares in the last quarter. Trexquant Investment LP bought a new stake in Quanex Building Products Corporation during the first quarter valued at $217,000. Louisiana State Employees Retirement System increased its stake in Quanex Building Products Corporation 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 buying an additional 200 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Quanex Building Products Corporation by 1.7% in the first quarter. Arizona State Retirement System now owns 17,936 shares of the construction company’s stock valued at $363,000 after buying an additional 300 shares in the last quarter. 98.96% of the stock is owned by institutional investors and hedge funds.

Shares of Quanex Building Products Corporation (NX) traded down 2.87% during trading on Thursday, reaching $20.30. 49,547 shares of the company traded hands. Quanex Building Products Corporation has a 52 week low of $15.40 and a 52 week high of $22.65. The firm’s 50 day moving average price is $21.26 and its 200-day moving average price is $20.30. The company’s market capitalization is $693.39 million.

Quanex Building Products Corporation (NYSE:NX) last posted its earnings results on Tuesday, May 30th. The construction company reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.06. The firm had revenue of $209.10 million for the quarter, compared to the consensus estimate of $205.27 million. Quanex Building Products Corporation had a negative net margin of 0.09% and a positive return on equity of 7.70%. The company’s revenue was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.11 EPS. Equities analysts anticipate that Quanex Building Products Corporation will post $0.79 EPS for the current fiscal year.

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Several research firms have recently weighed in on NX. BidaskClub downgraded shares of Quanex Building Products Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of Quanex Building Products Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. Sidoti began coverage on shares of Quanex Building Products Corporation in a research note on Monday. They set a “buy” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of Quanex Building Products Corporation in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Quanex Building Products Corporation currently has a consensus rating of “Hold” and a consensus target price of $23.75.

In related news, SVP Kevin P. Delaney sold 9,971 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $21.53, for a total value of $214,675.63. Following the transaction, the senior vice president now directly owns 113,442 shares of the company’s stock, valued at approximately $2,442,406.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin P. Delaney sold 21,275 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $21.16, for a total transaction of $450,179.00. Following the completion of the transaction, the senior vice president now directly owns 103,963 shares in the company, valued at $2,199,857.08. The disclosure for this sale can be found here. Insiders sold a total of 104,809 shares of company stock worth $2,230,713 over the last ninety days. Insiders own 5.32% of the company’s stock.

About Quanex Building Products Corporation

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Institutional Ownership by Quarter for Quanex Building Products Corporation (NYSE:NX)

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