State Board of Administration of Florida Retirement System lowered its stake in shares of Trex Co. (NYSE:TREX) by 15.7% during the second quarter, Holdings Channel reports. The institutional investor owned 19,274 shares of the company’s stock after selling 3,584 shares during the period. State Board of Administration of Florida Retirement System owned about 0.06% of Trex worth $866,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in TREX. Prudential Financial Inc. acquired a new stake in shares of Trex during the first quarter valued at about $3,552,000. State Street Corp increased its stake in shares of Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock valued at $28,531,000 after buying an additional 68,782 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Trex by 10.6% in the second quarter. Capstone Asset Management Co. now owns 11,162 shares of the company’s stock valued at $501,000 after buying an additional 1,070 shares in the last quarter. Aperio Group LLC increased its stake in shares of Trex by 42.2% in the first quarter. Aperio Group LLC now owns 10,403 shares of the company’s stock valued at $499,000 after buying an additional 3,088 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Trex by 172.2% in the first quarter. Royal Bank of Canada now owns 5,204 shares of the company’s stock valued at $249,000 after buying an additional 3,292 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.
Shares of Trex Co. (NYSE:TREX) traded up 1.70% on Tuesday, hitting $59.13. The company had a trading volume of 114,407 shares. Trex Co. has a 1-year low of $31.11 and a 1-year high of $64.36. The company has a 50 day moving average price of $59.89 and a 200 day moving average price of $49.72. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 30.83 and a beta of 2.00.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, August 1st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.08. Trex had a return on equity of 61.76% and a net margin of 12.68%. The business earned $146.45 million during the quarter, compared to the consensus estimate of $145.19 million. During the same quarter in the prior year, the company posted $0.58 earnings per share. Trex’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Trex Co. will post $2.31 earnings per share for the current fiscal year.
TREX has been the subject of several research reports. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Trex in a report on Sunday, July 10th. CL King downgraded Trex from a “buy” rating to a “neutral” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Sidoti began coverage on Trex in a report on Thursday, June 2nd. They set a “neutral” rating for the company. Finally, FBR & Co lifted their target price on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $59.33.
In related news, VP Adam Dante Zambanini sold 5,730 shares of the company’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $61.61, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider James E. Cline sold 6,873 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $55.49, for a total value of $381,382.77. Following the sale, the insider now owns 100,543 shares of the company’s stock, valued at approximately $5,579,131.07. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
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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