NEW YORK, Oct. 09, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Quanex Building Products Corporation (NYSE: NX) between December 12, 2024 and September 5, 2025, both dates inclusive (the “Class Period”), of the important November 18, 2025 lead plaintiff deadline. SO WHAT: If you purchased Quanex securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingenc ...

Group 1 - Black Bear Value Fund reported a return of -7.1% in September, -1.0% in the quarter, and -12.7% year-to-date, contrasting with the S&P 500's returns of +3.6% in September, +8.1% in the quarter, and +14.8% year-to-date [1] - Builders FirstSource, Inc. (NYSE:BLDR) experienced a one-month return of -11.61% and a 52-week loss of 32.44%, with a market capitalization of $14.32 billion as of October 8, 2025 [2] - The investment letter highlighted a structural shortage of housing in the USA, with higher mortgage rates limiting existing home supply as homeowners remain locked into low-rate mortgages [3] Group 2 - Builders FirstSource, Inc. (NYSE:BLDR) saw a 5% decrease in second-quarter sales, totaling $4.2 billion, while the number of hedge funds holding the stock increased from 58 to 74 [4] - Despite the potential of Builders FirstSource, certain AI stocks are considered to offer greater upside potential and less downside risk [4]

Summary of Key Points from the Conference Call Industry Overview - The conference call focused on the **Greater China Materials** industry, highlighting a **liquidity-driven bull market** supported by **supply disruptions** that are positively impacting commodity prices. The preference is for **gold, copper, and aluminum equities** in this environment [1][4][10]. Core Insights and Arguments - **Commodity Price Forecasts**: - **Aluminum**: Morgan Stanley forecasts $2,659 per ton for 2H2025, which is 6% higher than consensus. For CY2026, the forecast is $2,750, 8% above consensus [10]. - **Copper**: Expected price of $10,047 per ton for 2H2025, 5% above consensus, and $10,650 for CY2026, 9% above consensus [10]. - **Gold**: Projected at $3,719 per ounce for 2H2025, 9% above consensus, and $4,400 for CY2026, 34% above consensus [10]. - **Steel Demand Drivers**: - The **China Steel Demand Drivers** for 2025 include: - **Machinery**: 30% - **Infrastructure**: 17% - **Residential Property**: 14% - **Auto**: 9% [17][19]. - **Copper Consumption Index**: The **China Copper Consumption Index** indicates a significant reliance on sectors such as **Power (47%)**, **White Goods (15%)**, and **Auto (10%)** [21][22]. - **Aluminum Demand Breakdown**: The **China aluminum demand** is driven by: - **Property**: 22% - **Passenger Vehicles**: 20% - **Grid Investment**: 11% [27]. Additional Important Insights - **Infrastructure Spending**: - Infrastructure spending has partially offset the slowdown in new property starts, with a **5.4% YoY increase** in infrastructure spending for the first eight months of 2025 [35][55]. - **Weekly Shipments**: - Weekly cement and rebar shipments in China are being monitored, indicating trends in demand and supply dynamics [55][56]. - **Market Sentiment**: - The overall sentiment in the materials sector remains **attractive**, with Morgan Stanley's research indicating potential conflicts of interest due to business relationships with covered companies [4][5]. - **Analyst Team**: The call featured insights from a team of equity analysts at Morgan Stanley, emphasizing the importance of their research in investment decision-making [3]. This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the Greater China Materials industry and its current market dynamics.

Summary of Conference Call Notes Industry Overview - **Industry**: Building Materials, specifically focusing on cement and related materials in China - **Key Theme**: The anti-involution theme may lead to consolidation and capacity closures in the cement industry due to weak property sales impacting demand for building materials [1][2] Company-Specific Insights Zhuzhou Kibing Group Co Ltd (601636.SS) - **Price Target Change**: Increased from Rmb4.90 to Rmb5.20 - **Rating**: Downgraded to Underweight [1][6] Anhui Honglu Steel Construction (002541.SZ) - **Price Target Change**: Decreased from Rmb20.00 to Rmb19.00 - **Rating**: Downgraded from Overweight to Equal-weight [1][6] Weixing New Building Materials (002372.SZ) - **Price Target Change**: Decreased from Rmb14.40 to Rmb8.60 - **Rating**: Downgraded from Overweight to Underweight [1][6] China Lesso Group Holdings Ltd (2128.HK) - **Price Target Change**: Decreased from HK$4.20 to HK$3.80 - **Rating**: Downgraded from Equal-weight to Underweight [1][6] Market Dynamics - **Cement Supply Controls**: Policies introduced to control overproduction, targeting a reduction of 20-30% of excess capacity. Expected that ~20% of capacity will exit the industry during 2025-26, benefiting industry leaders through consolidation [2] - **Late-Cycle Building Materials**: Anticipated slow recovery due to declining property starts and completions. Some demand support may arise from secondary home sales and government programs [3] - **Float Glass Market**: Prices have slightly rebounded due to joint price increases, but overall demand remains muted, leading to continued downward pressure on prices [4] Financial Estimates and Changes - **Weixing New Building Materials**: - EPS estimates lowered by 24%/20%/25% for 2025-27 due to slow recovery in demand [11] - Revenue growth forecasts for PPR and PE pipes are negative for 2025, with expected declines of 5% and 7% respectively [18][26] - **China Lesso**: EPS estimates lowered by 10% for 2025-27 due to falling raw material prices [11] - **Honglu Steel**: EPS estimates lowered by 39%/28%/29% for 2025-27 due to reduced government subsidies and slowed capacity expansion [11] Risk Factors - **Weixing New Building Materials**: Continuous demand drag from property and infrastructure remains a significant risk. The company has maintained a high payout ratio but faces challenges in revenue growth [20][27] Conclusion - The building materials industry in China is facing significant challenges due to weak property sales and overcapacity. Companies are adjusting their price targets and ratings in response to these market conditions. The outlook for major players like Weixing and Honglu Steel indicates a cautious approach moving forward, with potential consolidation in the cement sector as a response to supply controls.

TopBuild Corp said on Wednesday it has acquired Specialty Products and Insulation (SPI) for $1 billion in cash, about a year after the two building material makers had terminated their initial agreeme... ...

Saint-Gobain has unveiled a new strategic plan, 'Lead & Grow', outlining its objectives and financial targets for the period 2026-2030. The company will focus on raising its profitable growth trajectory with a planned allocation of around €12bn ($14.01bn) for growth investments and acquisitions over this period. The company will direct its efforts towards maintaining its leadership positions, expanding in countries with high growth rates, and investing in construction chemicals. The French construction ...

Summary of Saint-Gobain Capital Markets Day - October 6, 2025 Company Overview - **Company**: Saint-Gobain - **Event**: 2025 Capital Markets Day - **Focus**: Mid-term strategy for growth and performance Key Points Industry Insights - **Construction Market Needs**: Significant demand in residential, non-residential, and infrastructure sectors, emphasizing climate adaptation and resource preservation [7][10] - **Sustainability Trends**: The construction sector is increasingly focused on low-emission and low-carbon buildings, with a strong market preference for green building certifications like LEED [13][15] Company Performance and Strategy - **Sales Growth**: Targeting mid-single-digit sales growth with a clear outperformance against market trends [12][56] - **EBITDA Margin**: Aiming for an EBITDA margin of 15% to 18% over the next five years, with a focus on enhancing profitability through solutions and portfolio management [56][60] - **Financial Performance**: Since 2018, operating income has increased by 66%, and recurring EPS has doubled [53] Regional Performance - **North America**: Facing a housing shortage of 4 million homes, with significant renovation needs due to climate change [17] - **Europe**: Targeting 3% to 5% sales growth, capitalizing on market recovery and energy efficiency trends [22] - **Emerging Markets**: High growth potential in Asia and Latin America, with a focus on urbanization and middle-class aspirations [18][22] Product and Market Expansion - **Comprehensive Solutions**: Saint-Gobain offers a wide range of products across the building envelope, enhancing performance and sustainability [19] - **Non-Residential and Infrastructure Markets**: Currently generating €15 billion in sales, with plans to expand significantly in these sectors [21][46] - **Construction Chemicals**: Targeting over €9 billion in sales by 2030, leveraging recent acquisitions and innovations [23] Innovation and Customer Engagement - **Customer-Centric Solutions**: Emphasizing integrated systems and solutions that meet customer needs, leading to increased sales and market share [26][31] - **Partnerships**: Collaborating with major builders like Barratt Redrow to develop innovative housing solutions [28][29] Financial Strategy and Capital Allocation - **Capital Deployment**: Planning to allocate around $20 billion for shareholder returns, growth investments, and acquisitions, with a focus on high-growth regions [60][63] - **M&A Strategy**: A disciplined approach to acquisitions, targeting leadership positions in high-growth markets and construction chemicals [63] Governance and Management - **Leadership Structure**: A renewed board with independent members and a strong management team focused on execution and value creation [66][68] - **Employee Engagement**: High levels of employee commitment to the company's growth strategy, with significant share ownership among employees [52][68] Additional Insights - **Market Trends**: The importance of adapting to megatrends such as urbanization, climate change, and energy efficiency is emphasized as a driver for growth [12][17] - **Sustainability Goals**: Saint-Gobain is committed to reducing its carbon footprint and leading in circular economy practices [51] This summary encapsulates the key insights and strategic directions discussed during the Saint-Gobain Capital Markets Day, highlighting the company's commitment to growth, sustainability, and innovation in the construction industry.

October 6, 2025 CAPITAL MARKETS DAY BENOIT BAZIN Chairman & Chief Executive Officer MAUD THUAUDET Chief Financial Officer Side comments to check in v59 OPENING A NEW CHAPTER TO ACCELERATE PROFITABLE GROWTH 2 CAPITAL MARKETS DAY – OCTOBER 6, 2025 THE WORLDWIDE LEADER IN LIGHT & SUSTAINABLE CONSTRUCTION #1 IN LIGHT BUILDING MATERIALS Leveraging LOCAL-FOR-LOCAL LEADERSHIP To grow across both MATURE AND EMERGING markets #1 IN EUROPE #1 IN NORTH AMERICA #1 IN AUSTRALIA #1 IN MIDDLE EAST #1 IN LATIN AMERICA #1 IN ...

Group 1 - The article highlights a compelling investment opportunity in Builders FirstSource (NYSE: BLDR) due to a combination of a cyclical catalyst, historical outperformance, and strong financials [1] - It suggests that lower interest rates will soon become apparent to the broader market, making it an opportune time to accumulate shares of Builders FirstSource [1] - The investment strategy discussed involves a macroeconomic approach, identifying strong economies and sectors likely to perform well, followed by a focus on quality companies with solid momentum [1] Group 2 - The analyst intends to initiate a long position in Builders FirstSource in the upcoming week, indicating confidence in the company's future performance [2] - There is no current stock or derivative position held by the analyst in any mentioned companies, ensuring an unbiased perspective [2] - The article emphasizes that past performance does not guarantee future results, underscoring the importance of careful investment consideration [3]

Accessibility StatementSkip Navigation NEW YORK, Oct. 2, 2025 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of MoonLake Immunotherapeutics (NASDAQ: MLTX) resulting from allegations that MoonLake may have issued materially misleading business information to the investing public. So What: If you purchased MoonLake securities you may be entitled to compensation without payment of any out of pocket fees or c ...