Teachers Advisors LLC Reduces Position in Trex Company, Inc. (TREX)

Teachers Advisors LLC Reduces Position in Trex Company, Inc. (TREX)

Teachers Advisors LLC decreased its position in shares of Trex Company, Inc. (NYSE:TREX) by 0.6% during the third quarter, Holdings Channel reports. The fund owned 46,978 shares of the company’s stock after selling 263 shares during the period. Teachers Advisors LLC owned approximately 0.16% of Trex Company worth $2,759,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Fiera Capital Corp purchased a new position in shares of Trex Company during the second quarter worth about $12,792,000. Rice Hall James & Associates LLC purchased a new position in shares of Trex Company during the second quarter worth about $2,531,000. BlackRock Fund Advisors raised its position in shares of Trex Company 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. New Amsterdam Partners LLC NY raised its position in shares of Trex Company by 40.4% in the second quarter. New Amsterdam Partners LLC NY now owns 168,572 shares of the company’s stock worth $7,572,000 after buying an additional 48,486 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in shares of Trex Company during the second quarter worth about $1,499,000. 93.63% of the stock is owned by hedge funds and other institutional investors.

Trex Company, Inc. (NYSE:TREX) traded down 0.20% during mid-day trading on Friday, hitting $68.17. The stock had a trading volume of 122,203 shares. The company has a 50-day moving average price of $67.63 and a 200 day moving average price of $60.88. The company has a market cap of $2.00 billion, a P/E ratio of 33.01 and a beta of 2.31. Trex Company, Inc. has a 1-year low of $32.30 and a 1-year high of $72.21.

Trex Company (NYSE:TREX) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business earned $106.20 million during the quarter, compared to analyst estimates of $105.14 million. Trex Company had a net margin of 13.02% and a return on equity of 65.45%. Trex Company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post $2.43 EPS for the current fiscal year.

TREX has been the subject of a number of research reports. Zacks Investment Research raised Trex Company from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Friday, October 21st. Wedbush increased their price objective on Trex Company from $53.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 19th. Stifel Nicolaus increased their price objective on Trex Company from $56.00 to $58.00 and gave the company a “hold” rating in a research report on Wednesday, November 9th. FBR & Co downgraded Trex Company from an “outperform” rating to a “market perform” rating and set a $61.00 price objective for the company. in a research report on Tuesday, November 22nd. Finally, Seaport Global Securities started coverage on Trex Company in a research report on Tuesday, November 22nd. They set a “neutral” rating for the company. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Trex Company currently has a consensus rating of “Hold” and an average price target of $63.50.

In related news, Director Richard E. Posey sold 2,180 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $68.44, for a total value of $149,199.20. Following the completion of the sale, the director now owns 16,235 shares of the company’s stock, valued at $1,111,123.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 1,801 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $66.21, for a total transaction of $119,244.21. Following the completion of the sale, the director now directly owns 11,354 shares of the company’s stock, valued at approximately $751,748.34. The disclosure for this sale can be found here. Company insiders own 1.40% of the company’s stock.

Trex Company Company Profile

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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