Renaissance Group LLC decreased its stake in Trex Company Inc (NYSE:TREX) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,737 shares of the construction company’s stock after selling 52 shares during the period. Renaissance Group LLC’s holdings in Trex Company were worth $329,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. purchased a new position in shares of Trex Company during the first quarter valued at about $103,000. Russell Investments Group Ltd. acquired a new stake in shares of Trex Company during the fourth quarter worth approximately $127,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Trex Company during the third quarter worth approximately $159,000. Fox Run Management L.L.C. acquired a new stake in shares of Trex Company during the first quarter worth approximately $201,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Trex Company during the fourth quarter worth approximately $206,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
Trex Company Inc (NYSE:TREX) traded down 0.42% during trading on Friday, reaching $63.48. 115,608 shares of the company’s stock traded hands. Trex Company Inc has a one year low of $39.74 and a one year high of $78.15. The firm has a market capitalization of $1.86 billion, a PE ratio of 25.93 and a beta of 2.33. The company has a 50-day moving average price of $68.59 and a 200 day moving average price of $67.57.
Trex Company (NYSE:TREX) last issued its quarterly earnings results on Thursday, May 4th. The construction company reported $0.95 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.07. Trex Company had a return on equity of 65.45% and a net margin of 13.02%. The firm had revenue of $144.80 million during the quarter, compared to the consensus estimate of $144.26 million. During the same period last year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, analysts anticipate that Trex Company Inc will post $2.85 earnings per share for the current fiscal year.
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A number of analysts have commented on TREX shares. Zacks Investment Research raised shares of Trex Company from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, April 26th. Griffin Securities reissued a “buy” rating on shares of Trex Company in a research note on Wednesday, March 1st. Stifel Nicolaus increased their price objective on shares of Trex Company from $60.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, February 22nd. Finally, FBR & Co increased their price objective on shares of Trex Company from $61.00 to $69.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, February 28th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.50.
In other Trex Company news, VP Christopher Paul Gerhard sold 4,475 shares of Trex Company stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $68.41, for a total value of $306,134.75. Following the completion of the sale, the vice president now owns 16,118 shares in the company, valued at approximately $1,102,632.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank H. Merlotti, Jr. sold 2,057 shares of Trex Company stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $63.81, for a total value of $131,257.17. Following the completion of the sale, the director now owns 11,718 shares of the company’s stock, valued at approximately $747,725.58. The disclosure for this sale can be found here. In the last three months, insiders sold 44,932 shares of company stock valued at $2,964,410. 1.40% of the stock is owned by corporate insiders.
Trex Company 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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