Penserra Capital Management LLC bought a new stake in Trex Company Inc (NYSE:TREX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 206,219 shares of the construction company’s stock, valued at approximately $15,874,000.
A number of other institutional investors have also recently bought and sold shares of TREX. Advisory Services Network LLC raised its position in Trex by 100.0% in the second quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock valued at $133,000 after purchasing an additional 1,000 shares during the last quarter. Whittier Trust Co. raised its position in Trex by 100.0% in the second quarter. Whittier Trust Co. now owns 2,958 shares of the construction company’s stock valued at $185,000 after purchasing an additional 1,479 shares during the last quarter. Bank of Montreal Can bought a new position in Trex in the second quarter valued at about $187,000. US Bancorp DE raised its position in Trex by 100.0% in the second quarter. US Bancorp DE now owns 3,084 shares of the construction company’s stock valued at $193,000 after purchasing an additional 1,542 shares during the last quarter. Finally, First Citizens Bank & Trust Co. bought a new position in Trex in the third quarter valued at about $204,000. Hedge funds and other institutional investors own 89.03% of the company’s stock.
A number of brokerages have recently issued reports on TREX. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating in a research report on Friday, August 10th. SunTrust Banks lowered their price objective on Trex to $58.00 and set a “hold” rating for the company in a research report on Tuesday, October 30th. Finally, Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $36.35.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.05. Trex had a return on equity of 46.55% and a net margin of 19.16%. The company had revenue of $166.38 million during the quarter, compared to the consensus estimate of $173.10 million. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, research analysts predict that Trex Company Inc will post 2.29 EPS for the current fiscal year.
In other Trex news, VP Christopher Paul Gerhard sold 2,990 shares of Trex stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $83.58, for a total value of $249,904.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank H. Merlotti, Jr. sold 3,051 shares of Trex stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $77.39, for a total value of $236,116.89. Following the completion of the sale, the director now owns 24,242 shares of the company’s stock, valued at $1,876,088.38. The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.
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Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.
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