Osterweis Capital Management Inc. lowered its position in Trex Company, Inc. (NYSE:TREX) by 34.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,115 shares of the construction company’s stock after selling 12,289 shares during the quarter. Osterweis Capital Management Inc. owned 0.08% of Trex worth $1,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its stake in shares of Trex by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock valued at $458,000 after buying an additional 18 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Trex by 1.1% in the second quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock valued at $262,000 after buying an additional 41 shares during the period. PNC Financial Services Group Inc. increased its stake 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 buying an additional 56 shares during the period. Virginia Retirement Systems ET AL increased its stake in shares of Trex by 1.6% in the second quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock valued at $419,000 after buying an additional 100 shares during the period. Finally, Renaissance Group LLC increased its stake in shares of Trex by 2.5% in the second quarter. Renaissance Group LLC now owns 4,856 shares of the construction company’s stock valued at $329,000 after buying an additional 119 shares during the period. 91.83% of the stock is owned by institutional investors.

In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of Trex stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $75.43, for a total transaction of $150,860.00. Following the sale, the chief financial officer now directly owns 18,167 shares in the company, valued at $1,370,336.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard E. Posey sold 3,167 shares of Trex stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $80.00, for a total value of $253,360.00. Following the sale, the director now owns 11,795 shares in the company, valued at $943,600. The disclosure for this sale can be found here. Insiders have sold 14,680 shares of company stock worth $1,145,196 over the last three months. Insiders own 0.95% of the company’s stock.

Several brokerages recently commented on TREX. Griffin Securities cut Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Sidoti cut Trex from a “buy” rating to a “neutral” rating and set a $89.00 target price on the stock. in a report on Monday, October 2nd. BidaskClub upgraded Trex from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $75.00 target price on shares of Trex in a report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded Trex from a “hold” rating to a “strong-buy” rating and set a $89.00 target price on the stock in a report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Trex currently has an average rating of “Hold” and an average target price of $77.50.

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Trex Company, Inc. (NYSE:TREX) traded down 0.55% during trading on Monday, hitting $86.72. The company’s stock had a trading volume of 26,385 shares. The firm has a 50 day moving average of $80.36 and a 200 day moving average of $72.28. The firm has a market cap of $2.55 billion, a P/E ratio of 33.25 and a beta of 2.33. Trex Company, Inc. has a 12 month low of $50.81 and a 12 month high of $90.09.

Trex (NYSE:TREX) last posted its earnings results on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.09. Trex had a return on equity of 56.76% and a net margin of 15.12%. The firm had revenue of $158.00 million for the quarter, compared to analysts’ expectations of $160.40 million. During the same period in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 7.9% compared to the same quarter last year. Equities research analysts predict that Trex Company, Inc. will post $2.99 earnings per share for the current year.

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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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