Wambolt & Associates LLC acquired a new position in Trex Company, Inc. (NYSE:TREX) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,470 shares of the construction company’s stock, valued at approximately $250,000.
Several other large investors have also modified their holdings of TREX. Berman Capital Advisors LLC lifted its holdings in shares of Trex by 560.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 251 shares of the construction company’s stock worth $25,000 after acquiring an additional 213 shares during the last quarter. Alpha Paradigm Partners LLC bought a new stake in shares of Trex in the 2nd quarter worth about $30,000. Cullen Frost Bankers Inc. bought a new stake in shares of Trex in the 2nd quarter worth about $48,000. Zions Bancorporation N.A. bought a new stake in Trex during the 1st quarter valued at about $67,000. Finally, Van ECK Associates Corp bought a new stake in Trex during the 1st quarter valued at about $72,000. 92.93% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on TREX shares. Robert W. Baird lowered shares of Trex from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $116.00 to $108.00 in a report on Tuesday. Zacks Investment Research lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Thursday, October 7th. B. Riley boosted their price target on shares of Trex from $103.00 to $108.00 and gave the company a “neutral” rating in a report on Tuesday, August 3rd. Finally, DA Davidson reduced their price target on shares of Trex from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, August 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.47.
Trex (NYSE:TREX) last released its earnings results on Sunday, August 1st. The construction company reported $0.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.53. Trex had a net margin of 19.27% and a return on equity of 33.86%. The business had revenue of $311.60 million for the quarter, compared to analyst estimates of $302.57 million. During the same period last year, the company posted $0.41 EPS. The business’s revenue was up 41.2% on a year-over-year basis. Analysts forecast that Trex Company, Inc. will post 2.05 earnings per share for the current fiscal year.
In other news, Director Patricia B. Robinson sold 7,452 shares of Trex stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $105.49, for a total transaction of $786,111.48. Following the sale, the director now owns 60,995 shares of the company’s stock, valued at approximately $6,434,362.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam Dante Zambanini sold 7,239 shares of Trex stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $104.77, for a total transaction of $758,430.03. The disclosure for this sale can be found here. Insiders sold a total of 33,123 shares of company stock worth $3,353,827 over the last three months. Corporate insiders own 0.69% of the company’s stock.
Trex Company Profile
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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