Wells Fargo & Company MN trimmed its position in Trecora Resources (NYSE:TREC) by 28.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,480 shares of the basic materials company’s stock after selling 13,347 shares during the quarter. Wells Fargo & Company MN owned approximately 0.14% of Trecora Resources worth $377,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Trecora Resources by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 121,653 shares of the basic materials company’s stock worth $1,350,000 after acquiring an additional 1,899 shares in the last quarter. American International Group Inc. raised its stake in Trecora Resources by 7.1% during the 1st quarter. American International Group Inc. now owns 12,221 shares of the basic materials company’s stock worth $136,000 after acquiring an additional 813 shares in the last quarter. Vanguard Group Inc. raised its stake in Trecora Resources by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 558,376 shares of the basic materials company’s stock worth $6,198,000 after acquiring an additional 13,585 shares in the last quarter. Geode Capital Management LLC raised its stake in Trecora Resources by 2.8% during the 1st quarter. Geode Capital Management LLC now owns 142,410 shares of the basic materials company’s stock worth $1,580,000 after acquiring an additional 3,889 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Trecora Resources by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 671,410 shares of the basic materials company’s stock worth $7,453,000 after acquiring an additional 16,452 shares in the last quarter. Institutional investors and hedge funds own 41.61% of the company’s stock.
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Trecora Resources (TREC) opened at $12.00 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.66 and a debt-to-equity ratio of 0.48. The company has a market cap of $292.89, a price-to-earnings ratio of 46.40 and a beta of 1.48. Trecora Resources has a one year low of $10.13 and a one year high of $14.80.
In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 20,000 shares of Trecora Resources stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $12.25, for a total value of $245,000.00. Following the transaction, the insider now directly owns 4,137,044 shares in the company, valued at $50,678,789. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 715,932 shares of company stock worth $9,034,411. 6.60% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on TREC shares. Zacks Investment Research lowered shares of Trecora Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of Trecora Resources from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 5th. B. Riley reiterated a “buy” rating and set a $17.00 price target on shares of Trecora Resources in a research note on Monday, August 7th. Finally, TheStreet lowered shares of Trecora Resources from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.75.
Trecora Resources Profile
Trecora Resources (TREC) is a provider of high-purity specialty hydrocarbons and waxes. TREC owns and operates a facility located in southeast Texas, just north of Beaumont, which specializes in high-purity hydrocarbons and other petrochemical manufacturing. The Company operates through two segments: specialty petrochemical products and specialty synthetic waxes.
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