STA Wealth Management LLC trimmed its holdings in Trex Company Inc (NYSE:TREX) by 31.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,458 shares of the construction company’s stock after selling 1,590 shares during the period. STA Wealth Management LLC’s holdings in Trex were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in TREX. Carillon Tower Advisers Inc. bought a new stake in Trex during the 4th quarter valued at $69,035,000. BlackRock Inc. lifted its holdings in shares of Trex by 5.7% during the 4th quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock valued at $430,812,000 after purchasing an additional 215,522 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its holdings in shares of Trex by 312.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 202,975 shares of the construction company’s stock valued at $22,000,000 after purchasing an additional 153,775 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Trex by 137.0% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 251,973 shares of the construction company’s stock valued at $27,311,000 after purchasing an additional 145,635 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its holdings in shares of Trex by 13.2% during the 4th quarter. Conestoga Capital Advisors LLC now owns 670,834 shares of the construction company’s stock valued at $72,712,000 after purchasing an additional 78,200 shares during the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.
Several equities research analysts have weighed in on TREX shares. B. Riley raised Trex from a “neutral” rating to a “buy” rating and increased their price target for the stock from $96.00 to $125.00 in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Thursday, January 11th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $110.00 target price (up from $100.00) on shares of Trex in a research note on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Trex has a consensus rating of “Buy” and an average target price of $102.00.
In other Trex news, VP Christopher Paul Gerhard sold 3,500 shares of the firm’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $107.48, for a total transaction of $376,180.00. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $1,649,818. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James E. Cline sold 21,669 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $106.58, for a total transaction of $2,309,482.02. Following the transaction, the insider now directly owns 68,736 shares of the company’s stock, valued at $7,325,882.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,355 shares of company stock worth $4,219,463. 0.95% of the stock is currently owned by insiders.
Shares of TREX stock traded up $2.98 on Wednesday, reaching $110.81. 159,201 shares of the company’s stock traded hands, compared to its average volume of 240,316. The firm has a market capitalization of $3,139.44, a price-to-earnings ratio of 33.76 and a beta of 2.30. Trex Company Inc has a one year low of $61.57 and a one year high of $120.40.
Trex (NYSE:TREX) last released its quarterly earnings results on Wednesday, February 21st. The construction company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. The business had revenue of $122.21 million for the quarter, compared to analyst estimates of $118.48 million. Trex had a net margin of 16.83% and a return on equity of 46.94%. The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. analysts expect that Trex Company Inc will post 4.2 EPS for the current fiscal year.
Trex announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 21st that permits the company to repurchase 2,900,000 outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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