Legal & General Group Plc Acquires 4,918 Shares of Trex Company, Inc. (TREX)
Legal & General Group Plc grew its holdings in Trex Company, Inc. (NYSE:TREX) by 9.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 56,519 shares of the construction company’s stock after purchasing an additional 4,918 shares during the quarter. Legal & General Group Plc owned approximately 0.19% of Trex worth $3,825,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of TREX. PNC Financial Services Group Inc. boosted its stake 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 valued at $142,000 after purchasing an additional 56 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Trex in the 1st quarter valued at about $177,000. LS Investment Advisors LLC boosted its stake in shares of Trex by 153.6% in the 1st quarter. LS Investment Advisors LLC now owns 2,949 shares of the construction company’s stock valued at $205,000 after purchasing an additional 1,786 shares during the last quarter. Teza Capital Management LLC bought a new position in shares of Trex in the 1st quarter valued at about $252,000. Finally, SG Americas Securities LLC boosted its stake in shares of Trex by 53.7% in the 1st quarter. SG Americas Securities LLC now owns 3,797 shares of the construction company’s stock valued at $263,000 after purchasing an additional 1,327 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.
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TREX has been the topic of several recent research reports. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. Seaport Global Securities raised shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Thursday, June 1st. Sidoti initiated coverage on shares of Trex in a research note on Thursday, June 15th. They issued a “buy” rating on the stock. BidaskClub raised shares of Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 price target on shares of Trex in a research report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.20.
Shares of Trex Company, Inc. (NYSE:TREX) opened at 81.14 on Friday. Trex Company, Inc. has a 12 month low of $50.81 and a 12 month high of $82.04. The company has a 50 day moving average of $76.52 and a 200-day moving average of $70.58. The firm has a market capitalization of $2.38 billion, a P/E ratio of 31.11 and a beta of 2.32.
Trex (NYSE:TREX) last announced its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Trex had a return on equity of 56.76% and a net margin of 15.12%. The business had revenue of $158.00 million for the quarter, compared to analysts’ expectations of $160.40 million. During the same period in the prior year, the business posted $0.79 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Analysts predict that Trex Company, Inc. will post $2.99 EPS for the current year.
In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total value of $150,860.00. Following the sale, the chief financial officer now directly owns 18,167 shares in the company, valued at $1,370,336.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the company’s 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 completion of the sale, the director now owns 12,640 shares in the company, valued at $956,974.40. The disclosure for this sale can be found here. Insiders sold 14,680 shares of company stock worth $1,145,196 over the last quarter. 0.95% of the stock is currently 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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