Kornitzer Capital Management Inc. KS boosted its position in Trex Company, Inc. (NYSE:TREX) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,400 shares of the construction company’s stock after buying an additional 715 shares during the period. Kornitzer Capital Management Inc. KS owned 0.55% of Trex worth $10,988,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its stake in Trex by 3.5% in the second quarter. Great West Life Assurance Co. Can now owns 42,245 shares of the construction company’s stock valued at $2,857,000 after buying an additional 1,445 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in Trex by 3.9% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,940 shares of the construction company’s stock valued at $470,000 after buying an additional 260 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in Trex by 9.4% in the second quarter. Congress Asset Management Co. MA now owns 22,977 shares of the construction company’s stock valued at $1,555,000 after buying an additional 1,970 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in Trex by 6.2% in the second quarter. Conestoga Capital Advisors LLC now owns 517,986 shares of the construction company’s stock valued at $35,047,000 after buying an additional 30,060 shares in the last quarter. Finally, Aperio Group LLC boosted its position in shares of Trex by 71.8% in the second quarter. Aperio Group LLC now owns 24,163 shares of the construction company’s stock worth $1,635,000 after buying an additional 10,100 shares during the period. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trex Company, Inc. (NYSE:TREX) traded up 0.71% during mid-day trading on Monday, reaching $76.50. 224,059 shares of the company traded hands. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 29.33 and a beta of 2.36. The firm has a 50-day moving average price of $72.69 and a 200 day moving average price of $69.33. Trex Company, Inc. has a 52 week low of $50.81 and a 52 week high of $82.04.
Trex (NYSE:TREX) last issued its quarterly earnings results 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. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company had revenue of $158 million for the quarter, compared to the consensus estimate of $160.40 million. During the same quarter in the prior year, the company earned $0.79 EPS. Trex’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts anticipate that Trex Company, Inc. will post $2.99 earnings per share for the current year.
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A number of research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “hold” rating and set a $75.00 price target on shares of Trex in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “strong-buy” rating and set a $89.00 price objective for the company in a research note on Thursday, August 3rd. FBR & Co raised their price objective on shares of Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. BidaskClub upgraded shares of Trex from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Finally, Griffin Securities lowered shares of Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. Three research 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 company. Trex has an average rating of “Buy” and a consensus target price of $75.20.
In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of Trex stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total value of $150,860.00. Following the sale, the chief financial officer now owns 18,167 shares of the company’s stock, valued at approximately $1,370,336.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 2,057 shares of Trex stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $63.81, for a total transaction of $131,257.17. Following the completion of the sale, the director now directly owns 11,718 shares in the company, valued at approximately $747,725.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,644 shares of company stock worth $1,117,992. 0.95% of the stock is owned by corporate insiders.
Trex Company Profile
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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