Allspring Global Investments Holdings LLC Has $88.49 Million Holdings in Quanex Building Products Co. (NYSE:NX)

Allspring Global Investments Holdings LLC decreased its position in shares of Quanex Building Products Co. (NYSE:NX) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,200,374 shares of the construction company’s stock after selling 60,432 shares during the period. Allspring Global Investments Holdings LLC owned about 9.67% of Quanex Building Products worth $88,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NX. GAMMA Investing LLC grew its holdings in Quanex Building Products by 157.1% during the 1st quarter. GAMMA Investing LLC now owns 1,784 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,090 shares during the period. Shell Asset Management Co. acquired a new stake in shares of Quanex Building Products in the 1st quarter valued at approximately $145,000. SG Americas Securities LLC bought a new stake in Quanex Building Products in the first quarter valued at approximately $216,000. Mutual of America Capital Management LLC acquired a new stake in Quanex Building Products in the first quarter worth $219,000. Finally, Cornerstone Investment Partners LLC bought a new position in shares of Quanex Building Products during the first quarter worth $249,000. Institutional investors own 97.48% of the company’s stock.

Quanex Building Products Price Performance

Shares of NX opened at $28.45 on Tuesday. The company has a 50 day moving average of $28.92 and a 200-day moving average of $32.41. The company has a quick ratio of 1.37, a current ratio of 2.22 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $942.06 million, a P/E ratio of 11.75, a P/E/G ratio of 0.85 and a beta of 1.29. Quanex Building Products Co. has a twelve month low of $25.39 and a twelve month high of $39.31.

Quanex Building Products (NYSE:NX) last posted its quarterly earnings results on Friday, June 7th. The construction company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. Quanex Building Products had a return on equity of 16.55% and a net margin of 7.33%. The firm had revenue of $266.20 million for the quarter, compared to analyst estimates of $268.80 million. During the same quarter in the previous year, the firm earned $0.66 EPS. As a group, equities research analysts forecast that Quanex Building Products Co. will post 2.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Quanex Building Products from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 20th.

Quanex Building Products 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.