SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13G Information Statement Pursuant to Rules 13d-1 and 13d-2 Amendment No. 2 QUANEX CORPORATION ------------------------------------- (Name of Issuer) Common Stock, par value $0.50 per share ------------------------------------------------------ (Title of Class of Securities) 747620102 --------------------- (CUSIP Number) Check the following box if a fee is being paid with this statement _______. (A fee is not required only if the filing person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in item 1: and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.) (Continued on following pages) Page 1 of 5 Pages - ------------------------- CUSIP NO. 747620102 - ---------------- - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Goldman, Sachs & Co. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) _____ (b) _____ - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or place of Organization New York - -------------------------------------------------------------------------------- Number of 5 Sole Voting Power Shares Beneficially 0 Owned By ------------------------- Each 6 Shared Voting Power Reporting Person With 374,800 ------------------------- 7 Sole Dispositive Power 0 ------------------------- 8 Shared Dispositive Power 445,600 ------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 445,600 ________________________________________________________________________________ 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ________________________________________________________________________________ 11. Percent of Class Representing by Amount in Row (9) 3.3% ________________________________________________________________________________ 12. Type of Reporting Person BD-PN-IA ________________________________________________________________________________ Page 2 of 5 Pages - ------------------------- CUSIP NO. 747620102 - ---------------- - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person The Goldman Sachs Group, L.P. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (a) _____ (b) _____ - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or place of Organization Delaware - -------------------------------------------------------------------------------- Number of 5 Sole Voting Power Shares Beneficially 0 Owned By ------------------------- Each 6 Shared Voting Power Reporting Person With 374,800 ------------------------- 7 Sole Dispositive Power 0 ------------------------- 8 Shared Dispositive Power 445,600 ------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 445,600 ________________________________________________________________________________ 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares ________________________________________________________________________________ 11. Percent of Class Representing by Amount in Row (9) 3.3% ________________________________________________________________________________ 12. Type of Reporting Person HC-PN ________________________________________________________________________________ Page 3 of 5 Pages Item 4. Ownership. (a). Amount beneficially owned: See the responses(s) to Item 9 on the attached cover pages(s). (b). Percent of class: See the response(s) to Item 11 on the attached cover pages(s). (c). Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s). (ii) Shared power to vote or direct the vote: See the response(s) to Item 6 on the attached cover page(s). (iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s). (iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s). Item 5. Ownership of Five Percent or Less of a Class March 5, 1996 Item 10. Certification. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purpose or effect. Page 4 of 5 Pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: April 4, 1996 - THE GOLDMAN SACHS GROUP, L.P. By:/s/ David B. Ford --------------------------------- Name: David B. Ford Title: General Partner GOLDMAN, SACHS & CO. By:/s/ David B. Ford --------------------------------- Name: David B. Ford Title: General Partner Page 5 of 5 Pages