Bank of New York Mellon Corp decreased its position in Trex Company Inc (NYSE:TREX) by 8.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,277 shares of the construction company’s stock after selling 34,978 shares during the period. Bank of New York Mellon Corp owned 1.27% of Trex worth $33,711,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of TREX. Janus Henderson Group PLC purchased a new stake in shares of Trex in the 2nd quarter valued at approximately $76,849,000. Teachers Advisors LLC grew its stake in shares of Trex by 361.9% in the 2nd quarter. Teachers Advisors LLC now owns 236,664 shares of the construction company’s stock valued at $16,013,000 after buying an additional 185,424 shares during the period. Nationwide Fund Advisors grew its stake in shares of Trex by 508.6% in the 2nd quarter. Nationwide Fund Advisors now owns 105,793 shares of the construction company’s stock valued at $7,158,000 after buying an additional 88,409 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Trex by 41.4% in the 2nd quarter. Westwood Holdings Group Inc. now owns 285,829 shares of the construction company’s stock valued at $19,340,000 after buying an additional 83,716 shares during the period. Finally, Wasatch Advisors Inc. grew its stake in shares of Trex by 9.6% in the 2nd quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after buying an additional 83,274 shares during the period. 89.09% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on TREX shares. BidaskClub cut shares of Trex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research cut shares of Trex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. B. Riley reissued a “neutral” rating and issued a $96.00 price target (up previously from $80.00) on shares of Trex in a research note on Wednesday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $89.00 price target on shares of Trex in a research note on Wednesday, November 1st. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 price target on shares of Trex in a research note on Wednesday, November 1st. Eight equities 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 has a consensus rating of “Hold” and a consensus target price of $90.00.
In other Trex news, VP Jay T. Scripter sold 1,116 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $108.59, for a total transaction of $121,186.44. Following the sale, the vice president now directly owns 14,212 shares in the company, valued at approximately $1,543,281.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard E. Posey sold 2,322 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total transaction of $258,183.18. Following the sale, the director now owns 11,591 shares in the company, valued at $1,288,803.29. The disclosure for this sale can be found here. Insiders have sold a total of 7,014 shares of company stock valued at $764,529 in the last ninety days. 0.95% of the stock is currently owned by corporate insiders.
Trex Company Inc (NYSE:TREX) traded up $0.68 during trading hours on Friday, hitting $112.41. 301,563 shares of the company were exchanged, compared to its average volume of 170,779. The stock has a market cap of $3,287.64, a PE ratio of 36.88 and a beta of 2.43. Trex Company Inc has a 1 year low of $61.57 and a 1 year high of $118.65.
Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.13. The firm had revenue of $140.19 million during the quarter, compared to analysts’ expectations of $125.30 million. Trex had a net margin of 16.61% and a return on equity of 51.30%. The firm’s quarterly revenue was up 32.0% on a year-over-year basis. During the same quarter last year, the company posted $0.26 EPS. analysts forecast that Trex Company Inc will post 3.11 EPS for the current year.
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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.
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