Putnam Investments LLC boosted its position in Trex Company Inc (NYSE:TREX) by 28.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,660 shares of the construction company’s stock after buying an additional 42,919 shares during the quarter. Putnam Investments LLC’s holdings in Trex were worth $13,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors purchased a new stake in Trex in the second quarter worth $43,000. Advisor Group Inc. increased its position in Trex by 31.6% in the second 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. Manchester Capital Management LLC purchased a new stake in Trex in the first quarter worth $78,000. ETF Managers Group LLC increased its position in Trex by 10.7% in the first quarter. ETF Managers Group LLC now owns 2,631 shares of the construction company’s stock worth $162,000 after buying an additional 255 shares during the last quarter. Finally, DAVENPORT & Co LLC purchased a new stake in Trex in the second quarter worth $227,000.
In related news, Director Jay M. Gratz sold 2,817 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $86.67, for a total transaction of $244,149.39. Following the completion of the transaction, the director now directly owns 16,515 shares in the company, valued at $1,431,355.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard E. Posey sold 3,133 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $79.19, for a total value of $248,102.27. Following the transaction, the director now owns 18,840 shares of the company’s stock, valued at $1,491,939.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,572 shares of company stock valued at $3,305,927. 0.93% of the stock is owned by company insiders.
Trex (NYSE:TREX) last announced its quarterly earnings results 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 company had revenue of $206.45 million during the quarter, compared to analysts’ expectations of $201.70 million. During the same period in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, equities research analysts forecast that Trex Company Inc will post 2.36 earnings per share for the current year.
A number of analysts have issued reports on the company. William Blair started coverage on Trex in a research report on Thursday, August 22nd. They issued an “outperform” rating for the company. SunTrust Banks lifted their price target on Trex to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. DA Davidson set a $96.00 price target on Trex and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $80.00 price target on shares of Trex in a research report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $78.78.
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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