Emerald Advisers Inc. PA Decreases Stake in Trex Co. (TREX)
Emerald Advisers Inc. PA reduced its stake in Trex Co. (NYSE:TREX) by 28.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 472,490 shares of the company’s stock after selling 186,420 shares during the period. Trex accounts for 1.0% of Emerald Advisers Inc. PA’s investment portfolio, making the stock its 21st largest position. Emerald Advisers Inc. PA owned 1.59% of Trex worth $21,224,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. purchased a new position in shares of Trex during the first quarter valued at approximately $3,552,000. State Street Corp boosted its position 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 during the period. Capstone Asset Management Co. boosted its position 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 during the period. Aperio Group LLC boosted its position 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 during the period. Finally, Royal Bank of Canada boosted its position 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 during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.
Shares of Trex Co. (NYSE:TREX) traded up 0.51% during mid-day trading on Tuesday, hitting $58.98. The stock had a trading volume of 120,963 shares. The company has a market capitalization of $1.73 billion, a P/E ratio of 30.75 and a beta of 2.02. Trex Co. has a 1-year low of $31.11 and a 1-year high of $64.36. The stock’s 50-day moving average price is $59.78 and its 200 day moving average price is $50.27.
Trex (NYSE:TREX) last posted its earnings results on Monday, August 1st. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. The business had revenue of $146.45 million for the quarter, compared to analyst estimates of $145.19 million. Trex had a return on equity of 61.76% and a net margin of 12.68%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. On average, analysts predict that Trex Co. will post $2.31 EPS for the current fiscal year.
Several research analysts have issued reports on TREX shares. Wedbush reiterated an “outperform” rating and set a $50.00 price objective on shares of Trex in a research note on Sunday, July 10th. CL King lowered Trex from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, FBR & Co increased their price objective on Trex from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 2nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Trex currently has an average rating of “Hold” and an average target price of $59.33.
In related news, insider James E. Cline sold 6,873 shares of the business’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 completion of the sale, the insider now directly owns 100,543 shares in the company, valued at approximately $5,579,131.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard E. Posey sold 5,266 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $54.99, for a total value of $289,577.34. Following the completion of the sale, the director now owns 18,438 shares of the company’s stock, valued at $1,013,905.62. The disclosure for this sale can be found here. 1.40% of the stock is owned by corporate insiders.
Trex Company Profile
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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