Macquarie Group Ltd. Acquires 49,000 Shares of Trex Company, Inc. (TREX)

Macquarie Group Ltd. raised its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 12.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 445,190 shares of the construction company’s stock after acquiring an additional 49,000 shares during the period. Macquarie Group Ltd. owned approximately 1.51% of Trex worth $30,122,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of Trex by 2.8% in the 1st 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. Riverhead Capital Management LLC increased its position in shares of Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after buying an additional 1,098 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after buying an additional 282 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Trex in the 1st quarter valued at $177,000. Finally, D.A. Davidson & CO. increased its position in shares of Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after buying an additional 322 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

A number of analysts recently commented on the stock. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a research report on Monday, October 2nd. Zacks Investment Research cut Trex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of Trex in a report on Thursday, August 3rd. Finally, Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.50.

WARNING: “Macquarie Group Ltd. Acquires 49,000 Shares of Trex Company, Inc. (TREX)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/10/macquarie-group-ltd-acquires-49000-shares-of-trex-company-inc-trex.html.

Trex Company, Inc. (NYSE TREX) opened at 86.66 on Tuesday. The stock’s 50 day moving average is $80.74 and its 200-day moving average is $72.45. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $90.09. The firm has a market capitalization of $2.55 billion, a P/E ratio of 33.23 and a beta of 2.33.

Trex (NYSE:TREX) last posted its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $158.00 million during the quarter, compared to the consensus estimate of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts forecast that Trex Company, Inc. will post $2.99 EPS for the current year.

In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued at $1,370,336.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an aver

Several other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. increased its position in shares of Trex by 2.8% in the 1st 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. Riverhead Capital Management LLC increased its position in shares of Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after buying an additional 1,098 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after buying an additional 282 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Trex in the 1st quarter valued at $177,000. Finally, D.A. Davidson & CO. increased its position in shares of Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after buying an additional 322 shares in the last quarter. Institutional investors own 91.83% of the company’s stock.

A number of analysts recently commented on the stock. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a research report on Monday, October 2nd. Zacks Investment Research cut Trex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of Trex in a report on Thursday, August 3rd. Finally, Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $77.50.

WARNING: “Macquarie Group Ltd. Acquires 49,000 Shares of Trex Company, Inc. (TREX)” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another domain, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this report can be read at https://ledgergazette.com/2017/10/10/macquarie-group-ltd-acquires-49000-shares-of-trex-company-inc-trex.html.

Trex Company, Inc. (NYSE TREX) opened at 86.66 on Tuesday. The stock’s 50 day moving average is $80.74 and its 200-day moving average is $72.45. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $90.09. The firm has a market capitalization of $2.55 billion, a P/E ratio of 33.23 and a beta of 2.33.

Trex (NYSE:TREX) last posted its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.88 by $0.09. The company had revenue of $158.00 million during the quarter, compared to the consensus estimate of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Analysts forecast that Trex Company, Inc. will post $2.99 EPS for the current year.

In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued at $1,370,336.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total transaction of $158,461.03. Following the transaction, the director now owns 12,640 shares in the company, valued at $956,974.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,680 shares of company stock valued at $1,145,196. 0.95% of the stock is currently owned by 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.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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