Key Points
Angelo Gordon & Co. acquired 2,054,770 shares of NX in the fourth quarter.
The quarter-end position value increased by $31.60 million as a result.
The NX position represents roughly 3% of 13F reportable assets under management.
On February 17, 2026, Angelo Gordon & Co. disclosed a new position in Quanex Building Products(NYSE:NX), acquiring 2,054,770 shares worth $31.60 million.
What happened
According to its SEC filing dated February 17, 2026, Angelo Gordon & Co. initiated a new position in Quanex Building Products(NYSE:NX) by acquiring 2,054,770 shares during the fourth quarter of 2025. The stake's quarter-end value stood at $31.60 million, an increase reflecting the combined impact of the new acquisition and stock price moves.
What else to know
- This is a new position, representing 2.98% of reportable 13F assets under management.
- Top five holdings after the filing:
- NYSE: HOUS: $137.25 million (22.7% of AUM)
- NYSE: NVRI: $63.05 million (10.4% of AUM)
- NASDAQ: BRKRP: $48.30 million (8.0% of AUM)
- NYSE: NGL: $46.93 million (7.7% of AUM)
- As of February 17, 2026, shares of Quanex Building Products were priced at $17.70, down 4.5% over the past year and well underperforming the S&P 500’s roughly 20% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $22.11 |
| Market capitalization | $1.02 billion |
| Revenue (TTM) | $1.84 billion |
| Net income (TTM) | ($250.81 million) |
Company snapshot
- Quanex Building Products provides insulating glass spacers, extruded vinyl profiles, window and door screens, precision-formed metal and wood products, as well as cabinet doors and components for original equipment manufacturers in the building products and cabinetry industries.
- The firm operates a business-to-business model, generating revenue through direct sales, distributors, and independent sales agents targeting original equipment manufacturers.
- It serves OEM customers in the fenestration, construction, and cabinetry sectors across the United States, Europe, Canada, Asia, and other international markets.
Quanex Building Products is a diversified manufacturer specializing in components for the fenestration and cabinetry markets, with a global footprint and a focus on OEM partnerships. The company leverages its broad product offering and established distribution channels to serve a range of construction and renovation end markets.
What this transaction means for investors
Quanex’s latest results show a company still generating substantial cash flow despite uneven housing demand that’s hurting profitability. The company reported roughly $409.1 million in revenue in its most recent quarter, while adjusted EBITDA came in around $27.4 million. The bottom line, however, reflected a $4.1 million net loss and negative $31.5 million in free cash flow.
In a statement alongside earnings, CEO George Wilson acknowledged that inflationary pressures, high interest rates, tariff uncertainty, and geopolitical tensions have all contributed to weaker consumer confidence and ultimately weaker demand for housing products. However, he expressed optimism that cost cuts and prioritizing debt repayment would help in the months ahead.
Within the portfolio, the position also fits alongside several housing and infrastructure names, including companies tied to residential platforms and real estate services. That context suggests a broader bet on housing activity rather than a one-off trade.
And it seems like Angelo Gordon’s bet is paying off. Shares are up about 15% year to date (since quarter’s end) while the S&P 500 has taken a roughly 1% hit.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
