Trex Co. (TREX) Director Richard E. Posey Sells 2,180 Shares
Trex Co. (NYSE:TREX) Director Richard E. Posey sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $68.44, for a total value of $149,199.20. Following the completion of the sale, the director now directly owns 16,235 shares in the company, valued at approximately $1,111,123.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Trex Co. (NYSE:TREX) traded up 0.61% during trading on Thursday, reaching $69.82. The company’s stock had a trading volume of 236,956 shares. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 33.81 and a beta of 2.21. The company has a 50 day moving average of $59.40 and a 200-day moving average of $53.27. Trex Co. has a 12-month low of $31.11 and a 12-month high of $72.21.
Trex (NYSE:TREX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. The firm earned $106.20 million during the quarter, compared to analyst estimates of $105.14 million. Trex had a return on equity of 65.45% and a net margin of 13.02%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. Analysts forecast that Trex Co. will post $2.43 EPS for the current year.
Several institutional investors have recently added to or reduced their stakes in TREX. BlackRock Inc. raised its position in shares of Trex by 152.8% in the first quarter. BlackRock Inc. now owns 2,690 shares of the company’s stock worth $129,000 after buying an additional 1,626 shares during the last quarter. BlackRock Group LTD raised its position in shares of Trex by 222.7% in the first quarter. BlackRock Group LTD now owns 31,922 shares of the company’s stock worth $1,529,000 after buying an additional 22,031 shares during the last quarter. State Street Corp raised 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 worth $28,531,000 after buying an additional 68,782 shares during the last quarter. UBS Group AG raised its position in shares of Trex by 1,671.2% in the first quarter. UBS Group AG now owns 23,026 shares of the company’s stock worth $1,103,000 after buying an additional 21,726 shares during the last quarter. Finally, Riverhead Capital Management LLC purchased a new position in shares of Trex during the first quarter worth approximately $188,000. 93.63% of the stock is owned by hedge funds and other institutional investors.
Several analysts have weighed in on the company. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a report on Thursday. FBR & Co cut Trex from an “outperform” rating to a “market perform” rating and set a $61.00 price target on the stock. in a report on Tuesday. Wedbush raised their price objective on Trex from $53.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, October 19th. CL King cut Trex from a “buy” rating to a “neutral” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, Seaport Global Securities started coverage on Trex in a report on Tuesday. They set a “neutral” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $63.00.
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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