Strs Ohio boosted its stake in Trex Company, Inc. (NYSE:TREX) by 139.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,940 shares of the construction company’s stock after buying an additional 16,840 shares during the period. Strs Ohio owned approximately 0.10% of Trex worth $2,606,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in Trex by 2.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after buying an additional 56 shares during the last quarter. Riverhead Capital Management LLC grew its stake in Trex by 91.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after buying an additional 1,098 shares during the last quarter. Victory Capital Management Inc. grew its stake in Trex by 12.9% in the 2nd quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after buying an additional 282 shares during the last quarter. D.A. Davidson & CO. grew its stake in Trex by 13.7% in the 2nd quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after buying an additional 322 shares during the last quarter. Finally, 1st Global Advisors Inc. acquired a new position in Trex in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 92.27% of the company’s stock.
In related news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 12,640 shares of the company’s stock, valued at $956,974.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard E. Posey sold 3,167 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $80.00, for a total transaction of $253,360.00. Following the transaction, the director now directly owns 11,795 shares of the company’s stock, valued at approximately $943,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,180 shares of company stock valued at $724,206. 0.95% of the stock is owned by corporate insiders.
A number of research analysts recently commented on the stock. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $95.00 price target on shares of Trex in a research note on Wednesday. Zacks Investment Research upgraded shares of Trex from a “sell” rating to a “buy” rating and set a $123.00 target price on the stock in a research report on Thursday. B. Riley FBR, Inc. increased their target price on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research report on Wednesday. Stifel Nicolaus restated a “hold” rating and set a $89.00 target price on shares of Trex in a research report on Wednesday. Finally, BidaskClub lowered shares of Trex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Trex currently has an average rating of “Hold” and an average price target of $90.00.
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Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 30th. The construction company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.55 by $0.13. The company 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%. Trex’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 earnings per share.
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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