First Trust Advisors LP Trims Stake in Trex Company, Inc. (TREX)
First Trust Advisors LP cut its holdings in Trex Company, Inc. (NYSE:TREX) by 19.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,578 shares of the construction company’s stock after selling 6,416 shares during the period. First Trust Advisors LP owned about 0.09% of Trex worth $1,798,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of TREX. PNC Financial Services Group Inc. increased its holdings in shares of Trex by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after buying an additional 56 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in shares of Trex during the 1st quarter worth about $177,000. LS Investment Advisors LLC boosted its stake in shares of Trex by 153.6% during the 1st quarter. LS Investment Advisors LLC now owns 2,949 shares of the construction company’s stock worth $205,000 after purchasing an additional 1,786 shares during the period. Teza Capital Management LLC purchased a new position in shares of Trex during the 1st quarter worth about $252,000. Finally, SG Americas Securities LLC boosted its stake in shares of Trex by 53.7% during the 1st quarter. SG Americas Securities LLC now owns 3,797 shares of the construction company’s stock worth $263,000 after purchasing an additional 1,327 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.
TREX has been the subject of a number of recent analyst reports. Griffin Securities cut shares of Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. FBR & Co lifted their price target on shares of Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 1st. Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Seaport Global Securities raised shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Thursday, June 1st. Finally, BidaskClub cut shares of Trex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Trex has an average rating of “Buy” and a consensus target price of $75.20.
Trex Company, Inc. (NYSE TREX) opened at 81.63 on Thursday. The company’s 50 day moving average is $76.20 and its 200-day moving average is $70.43. The stock has a market capitalization of $2.40 billion, a PE ratio of 31.30 and a beta of 2.32. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $84.28.
Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Trex had a net margin of 15.12% and a return on equity of 56.76%. The firm had revenue of $158.00 million during the quarter, compared to analysts’ expectations of $160.40 million. During the same period last year, the business earned $0.79 earnings per share. Trex’s revenue was up 7.9% compared to the same quarter last year. Analysts forecast that Trex Company, Inc. will post $2.99 earnings per share for the current fiscal year.
In related news, SVP William R. Gupp sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total transaction of $270,130.00. Following the completion of the sale, the senior vice president now directly owns 41,711 shares in the company, valued at $3,219,254.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher Paul Gerhard sold 3,920 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $79.69, for a total transaction of $312,384.80. Following the sale, the vice president now owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,680 shares of company stock valued at $1,145,196. 0.95% of the stock is owned by company insiders.
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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