TRUE Private Wealth Advisors Invests $43,000 in Trex Company Inc (NYSE:TREX)

TRUE Private Wealth Advisors acquired a new position in shares of Trex Company Inc (NYSE:TREX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 600 shares of the construction company’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Preferred LLC bought a new stake in Trex in the 1st quarter worth approximately $26,000. CENTRAL TRUST Co lifted its position in Trex by 189.7% in the 1st quarter. CENTRAL TRUST Co now owns 504 shares of the construction company’s stock worth $31,000 after buying an additional 330 shares during the last quarter. FMR LLC lifted its position in Trex by 27.9% in the 4th quarter. FMR LLC now owns 632 shares of the construction company’s stock worth $38,000 after buying an additional 138 shares during the last quarter. Quantamental Technologies LLC bought a new stake in Trex in the 1st quarter worth approximately $60,000. Finally, Advisor Group Inc. lifted its position in Trex by 31.6% in the 2nd quarter. Advisor Group Inc. now owns 1,009 shares of the construction company’s stock worth $72,000 after buying an additional 242 shares during the last quarter. 94.42% of the stock is owned by institutional investors.

TREX stock traded up $1.89 during midday trading on Friday, hitting $85.75. The company had a trading volume of 693,000 shares, compared to its average volume of 950,228. The company has a current ratio of 3.51, a quick ratio of 2.99 and a debt-to-equity ratio of 0.09. Trex Company Inc has a 52 week low of $50.88 and a 52 week high of $90.74. The stock’s 50 day moving average price is $74.75 and its 200 day moving average price is $70.72. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 3.42 and a beta of 2.12.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, July 29th. The construction company reported $0.64 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. Trex had a return on equity of 35.94% and a net margin of 17.61%. The firm had revenue of $206.45 million during the quarter, compared to the consensus estimate of $201.70 million. During the same quarter in the previous year, the company posted $0.73 earnings per share. The business’s revenue was down .1% on a year-over-year basis. Analysts predict that Trex Company Inc will post 2.37 earnings per share for the current year.

In other news, Director Patricia B. Robinson sold 9,191 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $79.74, for a total transaction of $732,890.34. Following the transaction, the director now directly owns 44,167 shares of the company’s stock, valued at $3,521,876.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard E. Posey sold 3,133 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $79.19, for a total value of $248,102.27. Following the transaction, the director now directly owns 18,840 shares in the company, valued at $1,491,939.60. The disclosure for this sale can be found here. Insiders sold 87,275 shares of company stock valued at $6,487,036 in the last quarter. Corporate insiders own 0.93% of the company’s stock.

A number of research firms recently weighed in on TREX. B. Riley downgraded Trex from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $72.00 in a research report on Tuesday, April 30th. Berenberg Bank restated a “buy” rating and issued a $80.00 target price on shares of Trex in a research report on Tuesday, July 30th. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating and set a $84.00 target price for the company. in a research report on Tuesday, August 6th. They noted that the move was a valuation call. SunTrust Banks boosted their target price on Trex to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Finally, Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.78.

About Trex

Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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