Next Century Growth Investors LLC lifted its position in shares of Trex Company Inc (NYSE:TREX) by 36.0% during the first quarter, HoldingsChannel reports. The firm owned 65,522 shares of the construction company’s stock after acquiring an additional 17,342 shares during the quarter. Next Century Growth Investors LLC’s holdings in Trex were worth $7,126,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of TREX. Carillon Tower Advisers Inc. acquired a new stake in shares of Trex during the fourth quarter worth about $69,035,000. BlackRock Inc. increased its position in shares of Trex by 5.7% during the fourth quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock worth $430,812,000 after purchasing an additional 215,522 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in shares of Trex by 312.6% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 202,975 shares of the construction company’s stock worth $22,000,000 after purchasing an additional 153,775 shares in the last quarter. Old Mutual Global Investors UK Ltd. increased its position in shares of Trex by 137.0% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 251,973 shares of the construction company’s stock worth $27,311,000 after purchasing an additional 145,635 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Trex during the fourth quarter worth about $8,817,000. Institutional investors and hedge funds own 89.15% of the company’s stock.
In other Trex news, Director Frank H. Merlotti, Jr. sold 1,481 shares of Trex stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $111.50, for a total value of $165,131.50. Following the sale, the director now owns 11,674 shares of the company’s stock, valued at approximately $1,301,651. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP William R. Gupp sold 3,919 shares of Trex stock in a transaction that occurred on Wednesday, May 9th. The shares were sold at an average price of $113.75, for a total value of $445,786.25. Following the completion of the sale, the senior vice president now directly owns 40,056 shares in the company, valued at approximately $4,556,370. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,130 shares of company stock worth $3,303,841. Corporate insiders own 0.95% of the company’s stock.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Thursday, May 10th. B. Riley raised their price target on Trex to $126.00 and gave the stock a “buy” rating in a report on Tuesday, May 8th. Sidoti raised Trex from a “neutral” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Tuesday, May 8th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $110.00 price target (up previously from $100.00) on shares of Trex in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Trex has a consensus rating of “Buy” and a consensus target price of $114.33.
Shares of NYSE TREX traded down $0.07 during midday trading on Thursday, reaching $124.60. 1,289 shares of the company were exchanged, compared to its average volume of 172,870. Trex Company Inc has a 1 year low of $64.66 and a 1 year high of $125.93. The firm has a market cap of $3.60 billion, a P/E ratio of 39.33 and a beta of 2.27.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, May 7th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.06. Trex had a return on equity of 45.74% and a net margin of 17.63%. The firm had revenue of $171.20 million for the quarter, compared to analyst estimates of $172.18 million. During the same quarter last year, the company posted $0.95 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. equities analysts forecast that Trex Company Inc will post 4.28 EPS for the current year.
Trex announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 21st that allows the company to repurchase 2,900,000 outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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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