Curbstone Financial Management Corp boosted its position in shares of Trex Company, Inc. (NYSE:TREX) by 87.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,200 shares of the construction company’s stock after acquiring an additional 4,300 shares during the period. Curbstone Financial Management Corp’s holdings in Trex were worth $829,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. increased its stake in Trex by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after acquiring an additional 56 shares during the period. Riverhead Capital Management LLC increased its stake in Trex by 91.5% during the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock valued at $156,000 after acquiring an additional 1,098 shares during the period. Victory Capital Management Inc. increased its stake in Trex by 12.9% during the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after acquiring an additional 282 shares during the period. D.A. Davidson & CO. increased its stake in Trex by 13.7% during the second quarter. D.A. Davidson & CO. now owns 2,664 shares of the construction company’s stock valued at $180,000 after acquiring an additional 322 shares during the period. Finally, 1st Global Advisors Inc. bought a new position in Trex during the second quarter valued at about $204,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.
TREX has been the topic of several research reports. BidaskClub upgraded Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Trex from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Stifel Nicolaus restated a “hold” rating and set a $75.00 price target on shares of Trex in a research note on Thursday, August 3rd. FBR & Co boosted their price target on Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research note on Tuesday, August 1st. Finally, Griffin Securities lowered Trex from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $77.50.
Trex Company, Inc. (NYSE:TREX) traded down 0.63% during midday trading on Wednesday, hitting $86.55. The stock had a trading volume of 29,075 shares. The company’s 50 day moving average is $82.50 and its 200 day moving average is $72.92. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 33.19 and a beta of 2.34. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $90.09.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The firm had revenue of $158.00 million during the quarter, compared to the consensus estimate of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the business posted $0.79 earnings per share. On average, equities analysts anticipate that Trex Company, Inc. will post $2.99 earnings per share for the current fiscal year.
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In other news, CFO Bryan Horix Fairbanks sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction of $150,860.00. Following the transaction, the chief financial officer now directly owns 18,167 shares of the company’s stock, valued at $1,370,336.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William R. Gupp sold 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $77.18, for a total transaction of $270,130.00. Following the transaction, the senior vice president now directly owns 41,711 shares in the company, valued at $3,219,254.98. The disclosure for this sale can be found here. Insiders have sold 14,680 shares of company stock worth $1,145,196 over the last ninety days. Insiders own 0.95% of the company’s stock.
Trex Company Profile
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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