Pacer Advisors Inc. purchased a new stake in Trex Company Inc (NYSE:TREX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 23,425 shares of the construction company’s stock, valued at approximately $1,680,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TRUE Private Wealth Advisors bought a new position in Trex in the 2nd quarter valued at $43,000. Quantamental Technologies LLC bought a new position in Trex during the 1st quarter worth $60,000. Advisor Group Inc. increased its position in Trex by 31.6% in the second quarter. Advisor Group Inc. now owns 1,009 shares of the construction company’s stock worth $72,000 after buying an additional 242 shares during the period. Manchester Capital Management LLC bought a new stake in Trex in the first quarter valued at $78,000. Finally, ETF Managers Group LLC lifted its stake in Trex by 10.7% in the first quarter. ETF Managers Group LLC now owns 2,631 shares of the construction company’s stock valued at $162,000 after buying an additional 255 shares during the last quarter. Institutional investors and hedge funds own 96.86% of the company’s stock.
Shares of Trex stock traded up $1.24 during trading on Wednesday, hitting $88.84. The stock had a trading volume of 20,485 shares, compared to its average volume of 529,534. The business has a fifty day moving average of $81.78 and a two-hundred day moving average of $72.17. Trex Company Inc has a fifty-two week low of $50.88 and a fifty-two week high of $90.74. The firm has a market cap of $5.22 billion, a P/E ratio of 37.83, a PEG ratio of 3.78 and a beta of 1.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.51 and a quick ratio of 2.99.
Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $206.45 million for the quarter, compared to analysts’ expectations of $201.70 million. Trex had a net margin of 17.61% and a return on equity of 35.94%. Trex’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 earnings per share. As a group, research analysts forecast that Trex Company Inc will post 2.36 earnings per share for the current year.
A number of brokerages have issued reports on TREX. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Berenberg Bank reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Trex in a report on Tuesday, July 30th. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Tuesday, August 6th. They noted that the move was a valuation call. William Blair began coverage on shares of Trex in a research note on Thursday, August 22nd. They set an “outperform” rating on the stock. Finally, DA Davidson set a $96.00 price target on shares of Trex and gave the stock a “buy” rating in a research report on Thursday, August 29th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Trex has a consensus rating of “Hold” and a consensus target price of $78.78.
In other Trex news, Director Jay M. Gratz sold 2,817 shares of Trex stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $86.67, for a total value of $244,149.39. Following the completion of the sale, the director now directly owns 16,515 shares in the company, valued at $1,431,355.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jay T. Scripter sold 25,758 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $69.15, for a total transaction of $1,781,165.70. Following the transaction, the vice president now owns 573 shares in the company, valued at approximately $39,622.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,330 shares of company stock worth $5,087,092. 0.93% of the stock is currently owned by corporate insiders.
Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.
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