Emerald Advisers Inc. PA Decreases Stake in Trex Co. (TREX)
Emerald Advisers Inc. PA cut its stake in shares of Trex Co. (NYSE:TREX) by 28.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,490 shares of the company’s stock after selling 186,420 shares during the period. Trex comprises 1.0% of Emerald Advisers Inc. PA’s holdings, making the stock its 21st largest position. Emerald Advisers Inc. PA’s holdings in Trex were worth $21,224,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in shares of Trex by 152.8% in the first quarter. BlackRock Inc. now owns 2,690 shares of the company’s stock valued at $129,000 after buying an additional 1,626 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Trex by 500.0% in the second quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company’s stock valued at $135,000 after buying an additional 2,500 shares in the last quarter. Riverhead Capital Management LLC acquired a new stake in shares of Trex during the first quarter valued at $188,000. Royal Bank of Canada increased its stake in shares of Trex by 172.2% in the first quarter. Royal Bank of Canada now owns 5,204 shares of the company’s stock valued at $249,000 after buying an additional 3,292 shares in the last quarter. Finally, Capital Insight Partners LLC acquired a new stake in shares of Trex during the second quarter valued at $376,000. Institutional investors and hedge funds own 97.35% of the company’s stock.
Shares of Trex Co. (NYSE:TREX) traded up 0.51% during trading on Tuesday, reaching $58.98. The company’s stock had a trading volume of 120,963 shares. The stock has a market cap of $1.73 billion, a P/E ratio of 30.75 and a beta of 2.02. Trex Co. has a 12-month low of $31.11 and a 12-month high of $64.36. The stock’s 50-day moving average is $59.78 and its 200-day moving average is $50.27.
Trex (NYSE:TREX) last released its earnings results on Monday, August 1st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.08. Trex had a return on equity of 61.76% and a net margin of 12.68%. The business earned $146.45 million during the quarter, compared to the consensus estimate of $145.19 million. During the same period last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities research analysts anticipate that Trex Co. will post $2.31 earnings per share for the current fiscal year.
TREX has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $50.00 price objective on shares of Trex in a research report on Sunday, July 10th. CL King downgraded Trex from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, FBR & Co upped their price objective on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $59.33.
In other news, insider James E. Cline sold 6,873 shares of Trex stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $55.49, for a total value of $381,382.77. Following the completion of the transaction, the insider now directly owns 100,543 shares in the company, valued at $5,579,131.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard E. Posey sold 5,266 shares of Trex stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $54.99, for a total value of $289,577.34. Following the completion of the transaction, the director now owns 18,438 shares of the company’s stock, valued at $1,013,905.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.
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