Allianz Asset Management GmbH grew its position in Trex Company Inc (NYSE:TREX) by 16.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 79,140 shares of the construction company’s stock after purchasing an additional 11,227 shares during the period. Allianz Asset Management GmbH’s holdings in Trex were worth $8,578,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Commerce Bank purchased a new position in shares of Trex during the 4th quarter worth approximately $217,000. Carillon Tower Advisers Inc. purchased a new position in shares of Trex during the 4th quarter worth approximately $69,035,000. Fuller & Thaler Asset Management Inc. boosted its position in shares of Trex by 312.6% during the 4th 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 during the period. OppenheimerFunds Inc. boosted its position in shares of Trex by 66.7% during the 4th quarter. OppenheimerFunds Inc. now owns 135,065 shares of the construction company’s stock worth $14,640,000 after purchasing an additional 54,055 shares during the period. Finally, Sawgrass Asset Management LLC boosted its position in shares of Trex by 45.0% during the 4th quarter. Sawgrass Asset Management LLC now owns 8,695 shares of the construction company’s stock worth $942,000 after purchasing an additional 2,700 shares during the period. 90.99% of the stock is owned by institutional investors and hedge funds.
Trex Company Inc (NYSE:TREX) opened at $108.27 on Wednesday. Trex Company Inc has a 1 year low of $61.57 and a 1 year high of $120.40. The company has a market cap of $3,190.00, a P/E ratio of 33.01 and a beta of 2.30.
Trex declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 21st that allows the company to repurchase 2,900,000 shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Trex news, Director Jay M. Gratz sold 1,058 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $116.95, for a total value of $123,733.10. Following the completion of the transaction, the director now owns 8,801 shares of the company’s stock, valued at approximately $1,029,276.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patricia B. Robinson sold 3,255 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $105.00, for a total transaction of $341,775.00. The disclosure for this sale can be found here. Insiders sold a total of 39,355 shares of company stock valued at $4,219,463 in the last three months. 0.95% of the stock is currently owned by corporate insiders.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Thursday, January 11th. Stifel Nicolaus reaffirmed a “hold” rating and set a $110.00 price objective (up previously from $100.00) on shares of Trex in a research report on Thursday, February 22nd. Finally, B. Riley increased their price objective on shares of Trex from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.00.
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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