Everence Capital Management Inc. acquired a new stake in Trex Company, Inc. (NYSE:TREX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,350 shares of the construction company’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TREX. PNC Financial Services Group Inc. increased its stake in shares of Trex by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after purchasing an additional 56 shares during the period. Riverhead Capital Management LLC increased its stake in shares of Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after purchasing an additional 1,098 shares during the period. Victory Capital Management Inc. increased its stake in shares of Trex by 12.9% during the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after purchasing an additional 282 shares during the period. D.A. Davidson & CO. increased its stake in shares of Trex by 13.7% during the second quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock worth $180,000 after purchasing an additional 322 shares during the period. Finally, 1st Global Advisors Inc. bought a new position in shares of Trex during the second quarter worth approximately $204,000. 92.27% of the stock is owned by institutional investors.
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TREX has been the topic of a number of recent research reports. BidaskClub upgraded Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Trex from a “sell” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and set a $75.00 target price on shares of Trex in a research note on Thursday, August 3rd. SunTrust Banks, Inc. reiterated a “hold” rating and set a $95.00 target price on shares of Trex in a research note on Wednesday. Finally, FBR & Co increased their target price on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 1st. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Trex presently has a consensus rating of “Hold” and an average target price of $90.00.
Trex (NYSE:TREX) last issued its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.13. Trex had a net margin of 16.61% and a return on equity of 51.30%. The business had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 32.0% compared to the same quarter last year.
In other Trex news, VP Christopher Paul Gerhard sold 3,920 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $79.69, for a total transaction of $312,384.80. Following the sale, the vice president now owns 26,560 shares of the company’s stock, valued at approximately $2,116,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total transaction of $158,461.03. Following the sale, the director now directly owns 12,640 shares in the company, valued at approximately $956,974.40. The disclosure for this sale can be found here. Insiders have sold a total of 9,180 shares of company stock worth $724,206 in the last three months. Insiders own 0.95% of the company’s stock.
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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