Frontier Capital Management Co. LLC cut its stake in Trex Company, Inc. (NYSE:TREX) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 289,840 shares of the construction company’s stock after selling 1,706 shares during the period. Frontier Capital Management Co. LLC owned about 0.99% of Trex worth $19,611,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in TREX. Whittier Trust Co. acquired a new stake in Trex during the first quarter valued at approximately $103,000. PNC Financial Services Group Inc. raised its stake in Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after buying an additional 56 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Trex during the first quarter valued at approximately $177,000. Fox Run Management L.L.C. acquired a new stake in Trex during the first quarter valued at approximately $201,000. Finally, LS Investment Advisors LLC raised its stake in Trex by 153.6% in the first quarter. LS Investment Advisors LLC now owns 2,949 shares of the construction company’s stock valued at $205,000 after buying an additional 1,786 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.
Trex Company, Inc. (TREX) opened at 72.93 on Tuesday. The firm has a 50-day moving average of $73.57 and a 200-day moving average of $69.57. Trex Company, Inc. has a 12-month low of $50.81 and a 12-month high of $82.04. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 27.96 and a beta of 2.36.
Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The company had revenue of $158 million for the quarter, compared to analyst estimates of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. The business’s revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Equities research analysts forecast that Trex Company, Inc. will post $2.99 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective 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 “buy” rating and set a $79.00 target price on the stock in a report on Wednesday, April 26th. BidaskClub upgraded shares of Trex from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Sidoti began coverage on shares of Trex in a report on Thursday, June 15th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating, two have issued 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 other Trex news, VP Christopher Paul Gerhard sold 3,920 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the transaction, the vice president now owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard E. Posey sold 3,167 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $80.00, for a total value of $253,360.00. Following the completion of the transaction, the director now directly owns 11,795 shares in the company, valued at approximately $943,600. The disclosure for this sale can be found here. In the last three months, insiders sold 14,680 shares of company stock worth $1,145,196. Insiders own 0.95% of the company’s stock.
About Trex
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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