Trex Company, Inc. (TREX) Stake Lifted by Principal Financial Group Inc.
Principal Financial Group Inc. increased its stake in Trex Company, Inc. (NYSE:TREX) by 2.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,555 shares of the construction company’s stock after acquiring an additional 6,191 shares during the period. Principal Financial Group Inc. owned approximately 0.83% of Trex worth $16,411,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after acquiring an additional 56 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Trex by 12.9% in the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock valued at $167,000 after acquiring an additional 282 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Trex in the first quarter valued at approximately $177,000. LS Investment Advisors LLC boosted its holdings in shares of Trex by 153.6% in the first quarter. LS Investment Advisors LLC now owns 2,949 shares of the construction company’s stock valued at $205,000 after acquiring an additional 1,786 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Trex by 53.7% in the first quarter. SG Americas Securities LLC now owns 3,797 shares of the construction company’s stock valued at $263,000 after acquiring an additional 1,327 shares in the last quarter. Institutional investors and hedge funds own 91.82% of the company’s stock.
In related news, VP Christopher Paul Gerhard sold 3,920 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $79.69, for a total transaction of $312,384.80. Following the completion of the sale, the vice president now directly owns 26,560 shares of the company’s stock, valued at $2,116,566.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP William R. Gupp sold 3,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $77.18, for a total transaction of $270,130.00. Following the sale, the senior vice president now directly owns 41,711 shares of the company’s stock, valued at $3,219,254.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,680 shares of company stock valued at $1,145,196. 0.95% of the stock is currently owned by insiders.
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Shares of Trex Company, Inc. (TREX) opened at 81.01 on Monday. Trex Company, Inc. has a one year low of $50.81 and a one year high of $84.28. The company has a market capitalization of $2.38 billion, a PE ratio of 31.06 and a beta of 2.32. The company’s 50-day moving average is $76.66 and its 200-day moving average is $70.67.
Trex (NYSE:TREX) last announced its earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.09. The company had revenue of $158.00 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 revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. Equities analysts predict that Trex Company, Inc. will post $2.99 earnings per share for the current year.
Several research firms have recently issued reports on TREX. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 price objective on shares of Trex in a report on Thursday, August 3rd. BidaskClub upgraded shares of Trex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a report on Friday, June 9th. Finally, Sidoti began coverage on shares of Trex in a report on Thursday, June 15th. They issued a “buy” rating for the company. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. Trex has a consensus rating of “Buy” and a consensus target price of $75.20.
Trex Company Profile
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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