Richard E. Posey Sells 3,167 Shares of Trex Company, Inc. (TREX) Stock
Trex Company, Inc. (NYSE:TREX) Director Richard E. Posey sold 3,167 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $80.00, for a total transaction of $253,360.00. Following the sale, the director now directly owns 11,795 shares of the company’s stock, valued at approximately $943,600. The sale was disclosed in a filing with the SEC, which is available at this link.
Trex Company, Inc. (NYSE TREX) traded down 0.34% during trading on Friday, reaching $73.51. 210,296 shares of the company’s stock traded hands. The firm has a 50 day moving average of $73.42 and a 200 day moving average of $69.50. Trex Company, Inc. has a 1-year low of $50.81 and a 1-year high of $82.04. The firm has a market capitalization of $2.16 billion, a PE ratio of 28.19 and a beta of 2.36.
Trex (NYSE:TREX) last issued its quarterly earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.09. The business had revenue of $158 million during the quarter, compared to the consensus estimate of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities analysts forecast that Trex Company, Inc. will post $2.99 EPS for the current year.
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Several large investors have recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of Trex during the first quarter worth approximately $103,000. Russell Investments Group Ltd. bought a new stake in Trex during the fourth quarter worth about $127,000. PNC Financial Services Group Inc. increased its stake in Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after buying an additional 56 shares during the last quarter. Riverhead Capital Management LLC increased its stake in Trex by 91.5% in the second quarter. Riverhead Capital Management LLC now owns 2,298 shares of the construction company’s stock worth $156,000 after buying an additional 1,098 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Trex by 12.9% in the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.
TREX has been the subject of several research reports. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Wednesday, May 10th. Seaport Global Securities raised shares of Trex from a “neutral” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Thursday, June 1st. BidaskClub raised shares of Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Sidoti initiated coverage on shares of Trex in a research note on Thursday, June 15th. They set a “buy” rating for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 target price on shares of Trex in a report on Friday, July 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $75.20.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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