Victory Capital Management Inc. increased its position in shares of Trex Co. (NYSE:TREX) by 34.3% during the second quarter, Holdings Channel reports. The fund owned 2,462 shares of the company’s stock after buying an additional 629 shares during the period. Victory Capital Management Inc.’s holdings in Trex were worth $111,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. BlackRock Fund Advisors increased its stake in Trex by 76.1% in the first quarter. BlackRock Fund Advisors now owns 2,203,509 shares of the company’s stock worth $105,614,000 after buying an additional 951,960 shares during the period. Pembroke Management LTD acquired a new stake in Trex during the second quarter worth $9,060,000. Prudential Financial Inc. acquired a new stake in Trex during the first quarter worth $3,552,000. Eagle Asset Management Inc. increased its stake in Trex by 11.4% in the second quarter. Eagle Asset Management Inc. now owns 678,636 shares of the company’s stock worth $30,484,000 after buying an additional 69,664 shares during the period. Finally, State Street Corp increased its stake in Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock worth $28,531,000 after buying an additional 68,782 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trex Co. (NYSE:TREX) traded down 0.40% during mid-day trading on Friday, hitting $60.27. The stock had a trading volume of 12,172 shares. The firm has a market cap of $1.76 billion, a P/E ratio of 31.42 and a beta of 2.02. Trex Co. has a 12-month low of $31.11 and a 12-month high of $64.36. The company has a 50 day moving average price of $59.73 and a 200 day moving average price of $50.50.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The business had revenue of $146.45 million for the quarter, compared to analysts’ expectations of $145.19 million. Trex had a return on equity of 61.76% and a net margin of 12.68%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. Equities analysts forecast that Trex Co. will post $2.31 earnings per share for the current fiscal year.
TREX has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Trex in a research note on Sunday, July 10th. Zacks Investment Research downgraded Trex from a “strong-buy” rating to a “hold” rating in a research report on Thursday. CL King downgraded Trex from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, FBR & Co boosted their target price on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $59.33.
In related news, Director Patricia B. Robinson sold 10,836 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $59.83, for a total value of $648,317.88. Following the sale, the director now directly owns 22,390 shares in the company, valued at approximately $1,339,593.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Adam Dante Zambanini sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $61.61, for a total value of $353,025.30. Following the completion of the sale, the vice president now owns 34,396 shares in the company, valued at $2,119,137.56. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.
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