STA Wealth Management LLC reduced its holdings in Trex Company Inc (NYSE:TREX) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,458 shares of the construction company’s stock after selling 1,590 shares during the quarter. STA Wealth Management LLC’s holdings in Trex were worth $375,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. U S Global Investors Inc. bought a new stake in shares of Trex in the 3rd quarter worth approximately $1,441,000. Bamco Inc. NY boosted its position in shares of Trex by 4.4% during the third quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock valued at $106,751,000 after purchasing an additional 49,870 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Trex by 29.2% during the third quarter. Wells Fargo & Company MN now owns 55,242 shares of the construction company’s stock valued at $4,976,000 after purchasing an additional 12,472 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Trex by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 465,162 shares of the construction company’s stock valued at $41,507,000 after purchasing an additional 6,402 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Trex by 1.9% during the third quarter. Legal & General Group Plc now owns 57,596 shares of the construction company’s stock valued at $5,187,000 after purchasing an additional 1,077 shares in the last quarter. Hedge funds and other institutional investors own 90.99% of the company’s stock.
Shares of Trex Company Inc (NYSE:TREX) opened at $108.27 on Wednesday. Trex Company Inc has a 1 year low of $61.57 and a 1 year high of $120.40. The firm has a market capitalization of $3,183.88, a P/E ratio of 34.24 and a beta of 2.30.
Trex (NYSE:TREX) last released its earnings results on Wednesday, February 21st. The construction company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. Trex had a return on equity of 46.94% and a net margin of 16.83%. The business had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. During the same period in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 28.2% compared to the same quarter last year. equities analysts forecast that Trex Company Inc will post 4.09 EPS for the current fiscal year.
Trex announced that its board has approved a stock buyback program on Wednesday, February 21st that authorizes the company to repurchase 2,900,000 outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other Trex news, Director Patricia B. Robinson sold 3,255 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $105.00, for a total value of $341,775.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William R. Gupp sold 3,500 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $105.99, for a total value of $370,965.00. Following the completion of the sale, the senior vice president now directly owns 36,438 shares in the company, valued at $3,862,063.62. The disclosure for this sale can be found here. Insiders sold 39,355 shares of company stock worth $4,219,463 over the last three months. Corporate insiders own 0.95% of the company’s stock.
TREX has been the topic of several research reports. B. Riley lifted their price target on Trex from $125.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Thursday, January 11th. Finally, Stifel Nicolaus restated a “hold” rating and set a $110.00 price target (up from $100.00) on shares of Trex in a research report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $102.00.
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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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