Redwood Investments LLC grew its holdings in Trex Company Inc (NYSE:TREX) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,143 shares of the construction company’s stock after purchasing an additional 40,803 shares during the period. Redwood Investments LLC’s holdings in Trex were worth $16,373,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Mason Street Advisors LLC lifted its position in shares of Trex by 71.8% in the first quarter. Mason Street Advisors LLC now owns 31,340 shares of the construction company’s stock valued at $1,928,000 after acquiring an additional 13,094 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of Trex in the first quarter valued at about $281,000. Motley Fool Asset Management LLC lifted its position in shares of Trex by 19.8% in the first quarter. Motley Fool Asset Management LLC now owns 35,582 shares of the construction company’s stock valued at $2,189,000 after acquiring an additional 5,880 shares in the last quarter. American International Group Inc. lifted its position in shares of Trex by 236.1% in the first quarter. American International Group Inc. now owns 154,087 shares of the construction company’s stock valued at $9,479,000 after acquiring an additional 108,242 shares in the last quarter. Finally, State Treasurer State of Michigan purchased a new position in shares of Trex in the first quarter valued at about $1,286,000. 94.35% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:TREX traded down $1.25 during mid-day trading on Friday, reaching $59.77. The stock had a trading volume of 9,997 shares, compared to its average volume of 946,086. The company has a market capitalization of $3.57 billion, a P/E ratio of 25.53, a P/E/G ratio of 2.55 and a beta of 1.98. Trex Company Inc has a 1 year low of $50.88 and a 1 year high of $90.74.
Trex (NYSE:TREX) last posted its earnings results on Monday, April 29th. The construction company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The firm had revenue of $179.57 million during the quarter, compared to analysts’ expectations of $176.75 million. Trex had a return on equity of 40.07% and a net margin of 18.63%. Trex’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities research analysts predict that Trex Company Inc will post 2.39 earnings per share for the current year.
In other Trex news, insider James E. Cline sold 11,980 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.34, for a total transaction of $818,713.20. Following the sale, the insider now directly owns 81,897 shares of the company’s stock, valued at $5,596,840.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William R. Gupp sold 4,563 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $68.69, for a total value of $313,432.47. Following the sale, the senior vice president now directly owns 63,945 shares in the company, valued at $4,392,382.05. The disclosure for this sale can be found here. Insiders sold 34,344 shares of company stock worth $2,514,523 over the last quarter. 0.93% of the stock is owned by company insiders.
TREX has been the topic of several research analyst reports. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, March 12th. Berenberg Bank restated a “buy” rating and issued a $89.00 price objective on shares of Trex in a research report on Wednesday, February 27th. B. Riley restated a “buy” rating and issued a $80.00 price objective (up from $71.00) on shares of Trex in a research report on Friday, February 15th. DA Davidson initiated coverage on Trex in a research report on Friday, April 5th. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Sidoti upgraded Trex from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, March 29th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $75.13.
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Trex Company Profile
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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