Trex Co. (TREX) Director Frank H. Merlotti, Jr. Sells 1,801 Shares
Trex Co. (NYSE:TREX) Director Frank H. Merlotti, Jr. sold 1,801 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $66.21, for a total value of $119,244.21. Following the completion of the transaction, the director now directly owns 11,354 shares in the company, valued at approximately $751,748.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Trex Co. (NYSE:TREX) traded up 3.60% during mid-day trading on Thursday, hitting $69.11. The company had a trading volume of 144,312 shares. The firm has a market capitalization of $2.02 billion, a P/E ratio of 33.47 and a beta of 2.21. The company has a 50-day moving average price of $57.92 and a 200 day moving average price of $52.45. Trex Co. has a 12 month low of $31.11 and a 12 month high of $69.12.
Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.03. The business had revenue of $106.20 million for the quarter, compared to the consensus estimate of $105.14 million. Trex had a return on equity of 65.45% and a net margin of 13.02%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 EPS. Equities analysts forecast that Trex Co. will post $2.43 EPS for the current fiscal year.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research note on Tuesday. Wedbush raised their price objective on Trex from $53.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 19th. CL King downgraded 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. FBR & Co raised 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. Finally, Stifel Nicolaus raised their price objective on Trex from $56.00 to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, November 9th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $59.00.
A number of hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its stake in Trex by 34.3% in the second quarter. Victory Capital Management Inc. now owns 2,462 shares of the company’s stock valued at $111,000 after buying an additional 629 shares during the last quarter. BlackRock Inc. increased its stake in Trex by 152.8% in the first quarter. BlackRock Inc. now owns 2,690 shares of the company’s stock valued at $129,000 after buying an additional 1,626 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Trex during the third quarter valued at $159,000. Nisa Investment Advisors LLC increased its stake in Trex by 500.0% in the second quarter. Nisa Investment Advisors LLC now owns 3,000 shares of the company’s stock valued at $135,000 after buying an additional 2,500 shares during the last quarter. Finally, M&R Capital Management Inc. purchased a new stake in Trex during the second quarter valued at $134,000. Institutional investors and hedge funds own 93.02% of the company’s stock.
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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