Lord Abbett & CO. LLC lowered its position in Trex Company Inc (NYSE:TREX) by 34.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 433,615 shares of the construction company’s stock after selling 231,113 shares during the period. Lord Abbett & CO. LLC owned about 0.74% of Trex worth $25,739,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning increased its position in shares of Trex by 10.2% in the 4th quarter. Creative Planning now owns 21,412 shares of the construction company’s stock valued at $1,271,000 after buying an additional 1,983 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Trex by 10.9% during the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 642,985 shares of the construction company’s stock worth $38,168,000 after purchasing an additional 63,314 shares in the last quarter. Legal & General Group Plc increased its holdings in Trex by 7.6% during the 3rd quarter. Legal & General Group Plc now owns 137,819 shares of the construction company’s stock worth $10,691,000 after purchasing an additional 9,738 shares in the last quarter. Nordea Investment Management AB increased its holdings in Trex by 2.9% during the 3rd quarter. Nordea Investment Management AB now owns 58,259 shares of the construction company’s stock worth $4,485,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in Trex by 3.6% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,160,442 shares of the construction company’s stock worth $68,884,000 after purchasing an additional 40,855 shares in the last quarter. Institutional investors and hedge funds own 93.81% of the company’s stock.
TREX has been the subject of a number of research reports. Zacks Investment Research cut Trex from a “hold” rating to a “sell” rating in a report on Tuesday, January 1st. ValuEngine upgraded Trex from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Jefferies Financial Group initiated coverage on Trex in a report on Wednesday, January 9th. They set a “hold” rating and a $60.00 target price for the company. B. Riley reiterated a “buy” rating and set a $80.00 target price (up previously from $71.00) on shares of Trex in a report on Friday, February 15th. Finally, Sidoti cut Trex from a “buy” rating to a “neutral” rating and set a $80.00 target price for the company. in a report on Wednesday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.33.
TREX stock opened at $70.19 on Friday. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 3.54 and a beta of 2.00. Trex Company Inc has a 1 year low of $50.88 and a 1 year high of $90.74.
Trex (NYSE:TREX) last released its earnings results on Thursday, February 14th. The construction company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.07. The firm had revenue of $140.00 million during the quarter, compared to analysts’ expectations of $131.40 million. Trex had a return on equity of 45.17% and a net margin of 19.67%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. On average, equities analysts forecast that Trex Company Inc will post 2.54 earnings per share for the current year.
In other news, insider James E. Cline sold 13,495 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $77.95, for a total value of $1,051,935.25. Following the completion of the transaction, the insider now owns 82,391 shares in the company, valued at approximately $6,422,378.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William R. Gupp sold 4,306 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $76.74, for a total value of $330,442.44. Following the completion of the transaction, the senior vice president now owns 68,486 shares of the company’s stock, valued at approximately $5,255,615.64. The disclosure for this sale can be found here. 1.17% of the stock is owned by company insiders.
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Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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