Wall Street Associates maintained its stake in Trex Co. (NYSE:TREX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,000 shares of the company’s stock at the end of the fourth quarter. Wall Street Associates owned 0.06% of Trex worth $1,159,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp bought a new position in shares of Trex during the second quarter worth about $12,792,000. Morgan Stanley increased its position in shares of Trex by 59.0% in the third quarter. Morgan Stanley now owns 235,872 shares of the company’s stock worth $13,851,000 after buying an additional 87,552 shares during the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Trex during the second quarter worth about $2,531,000. Old Mutual Global Investors UK Ltd. increased its position in shares of Trex by 138.1% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 88,475 shares of the company’s stock worth $3,974,000 after buying an additional 51,313 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of Trex by 2.3% in the third quarter. BlackRock Fund Advisors now owns 2,215,227 shares of the company’s stock worth $130,078,000 after buying an additional 48,916 shares during the last quarter. 94.29% of the stock is owned by hedge funds and other institutional investors.
Shares of Trex Co. (NYSE:TREX) traded down 2.28% during mid-day trading on Thursday, hitting $67.73. The company had a trading volume of 142,548 shares. The firm has a market capitalization of $1.98 billion, a P/E ratio of 32.80 and a beta of 2.31. Trex Co. has a 12 month low of $32.20 and a 12 month high of $72.21. The firm has a 50-day moving average price of $67.44 and a 200 day moving average price of $59.95.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, November 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.14 million. Trex had a return on equity of 65.45% and a net margin of 13.02%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. On average, equities research analysts forecast that Trex Co. will post $2.43 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the company. Seaport Global Securities assumed coverage on Trex in a report on Tuesday, November 22nd. They issued a “neutral” rating for the company. FBR & Co downgraded Trex from an “outperform” rating to a “market perform” rating and set a $61.00 price target for the company. in a report on Tuesday, November 22nd. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a report on Friday, November 25th. Finally, Wedbush boosted their price target on Trex from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $63.50.
In other Trex news, Director Richard E. Posey sold 2,180 shares of the stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $68.44, for a total transaction of $149,199.20. Following the completion of the sale, the director now directly owns 16,235 shares of the company’s stock, valued at approximately $1,111,123.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $66.21, for a total value of $119,244.21. Following the sale, the director now directly owns 11,354 shares of the company’s stock, valued at $751,748.34. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.
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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