Trex Company, Inc. (TREX) Position Lowered by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC decreased its position in Trex Company, Inc. (NYSE:TREX) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,252 shares of the construction company’s stock after selling 13,237 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.37% of Trex worth $7,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TREX. Russell Investments Group Ltd. raised its holdings in Trex by 154.8% in the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock worth $341,000 after purchasing an additional 2,987 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Trex by 42.0% in the first quarter. UBS Asset Management Americas Inc. now owns 14,520 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 4,295 shares in the last quarter. Karp Capital Management Corp bought a new position in Trex in the first quarter worth $976,000. Parametric Portfolio Associates LLC raised its holdings in Trex by 125.2% in the first quarter. Parametric Portfolio Associates LLC now owns 58,162 shares of the construction company’s stock worth $4,036,000 after purchasing an additional 32,334 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Trex in the first quarter worth $177,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Trex Company, Inc. (NYSE:TREX) opened at 85.12 on Wednesday. Trex Company, Inc. has a one year low of $50.81 and a one year high of $90.09. The stock’s 50 day moving average price is $81.09 and its 200 day moving average price is $72.56. The company has a market capitalization of $2.50 billion, a P/E ratio of 32.64 and a beta of 2.34.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The firm had revenue of $158.00 million during 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts anticipate that Trex Company, Inc. will post $2.99 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded Trex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Trex in a report on Thursday, August 3rd. Finally, FBR & Co increased their price objective on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $77.50.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/11/trex-company-inc-trex-position-lowered-by-tiaa-cref-investment-management-llc.html.

In other news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total value of $158,461.03. Following the completion of the transaction, the director now directly owns 12,640 shares of the company’s stock, valued at approximately $956,974.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total value of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares in the company, valued

A number of other institutional investors and hedge funds have also recently bought and sold shares of TREX. Russell Investments Group Ltd. raised its holdings in Trex by 154.8% in the first quarter. Russell Investments Group Ltd. now owns 4,916 shares of the construction company’s stock worth $341,000 after purchasing an additional 2,987 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Trex by 42.0% in the first quarter. UBS Asset Management Americas Inc. now owns 14,520 shares of the construction company’s stock worth $1,008,000 after purchasing an additional 4,295 shares in the last quarter. Karp Capital Management Corp bought a new position in Trex in the first quarter worth $976,000. Parametric Portfolio Associates LLC raised its holdings in Trex by 125.2% in the first quarter. Parametric Portfolio Associates LLC now owns 58,162 shares of the construction company’s stock worth $4,036,000 after purchasing an additional 32,334 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Trex in the first quarter worth $177,000. Institutional investors and hedge funds own 91.83% of the company’s stock.

Trex Company, Inc. (NYSE:TREX) opened at 85.12 on Wednesday. Trex Company, Inc. has a one year low of $50.81 and a one year high of $90.09. The stock’s 50 day moving average price is $81.09 and its 200 day moving average price is $72.56. The company has a market capitalization of $2.50 billion, a P/E ratio of 32.64 and a beta of 2.34.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The firm had revenue of $158.00 million during 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 for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Equities analysts anticipate that Trex Company, Inc. will post $2.99 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded Trex from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $89.00 price objective for the company. in a report on Monday, October 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Trex in a report on Thursday, August 3rd. Finally, FBR & Co increased their price objective on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $77.50.

ILLEGAL ACTIVITY WARNING: This report was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another site, it was stolen and reposted in violation of international copyright & trademark law. The original version of this report can be read at https://ledgergazette.com/2017/10/11/trex-company-inc-trex-position-lowered-by-tiaa-cref-investment-management-llc.html.

In other news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total value of $158,461.03. Following the completion of the transaction, the director now directly owns 12,640 shares of the company’s stock, valued at approximately $956,974.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 14,680 shares of company stock valued at $1,145,196. Corporate 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.

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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