Trex Company, Inc. (TREX) Director Frank H. Merlotti, Jr. Sells 2,093 Shares
Trex Company, Inc. (NYSE:TREX) Director Frank H. Merlotti, Jr. sold 2,093 shares of the stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total value of $158,461.03. Following the transaction, the director now owns 12,640 shares of the company’s stock, valued at $956,974.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Trex Company, Inc. (NYSE:TREX) traded down 0.92% during midday trading on Wednesday, hitting $75.07. The company had a trading volume of 300,094 shares. The company’s 50 day moving average is $72.88 and its 200-day moving average is $69.38. Trex Company, Inc. has a one year low of $50.81 and a one year high of $82.04. The company has a market cap of $2.21 billion, a P/E ratio of 28.78 and a beta of 2.36.
Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The company had revenue of $158 million for the quarter, compared to analyst estimates of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. Trex’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. On average, equities analysts predict that Trex Company, Inc. will post $2.99 EPS for the current year.
Several equities research analysts recently issued reports on TREX shares. Griffin Securities lowered Trex from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Seaport Global Securities raised Trex from a “neutral” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Thursday, June 1st. Sidoti started coverage on Trex in a research report on Thursday, June 15th. They set a “buy” rating on the stock. Finally, BidaskClub raised Trex from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Three analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.20.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Trex by 132,134.8% in the first quarter. BlackRock Inc. now owns 3,715,799 shares of the construction company’s stock valued at $257,840,000 after buying an additional 3,712,989 shares during the period. Janus Henderson Group PLC bought a new position in Trex during the second quarter valued at approximately $76,849,000. Clearbridge Investments LLC increased its position in Trex by 43.3% in the first quarter. Clearbridge Investments LLC now owns 1,834,959 shares of the construction company’s stock valued at $127,328,000 after buying an additional 554,073 shares during the period. Vanguard Group Inc. increased its position in Trex by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock valued at $225,653,000 after buying an additional 197,846 shares during the period. Finally, Teachers Advisors LLC increased its position in Trex by 361.9% in the second quarter. Teachers Advisors LLC now owns 236,664 shares of the construction company’s stock valued at $16,013,000 after buying an additional 185,424 shares during the period. Institutional investors and hedge funds own 91.64% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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