Securian Asset Management Inc acquired a new stake in Trex Company Inc (NYSE:TREX) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 7,150 shares of the construction company’s stock, valued at approximately $440,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can boosted its stake in shares of Trex by 5.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 77,489 shares of the construction company’s stock worth $4,246,000 after acquiring an additional 3,958 shares during the last quarter. Creative Planning lifted its position in Trex by 10.2% during the fourth quarter. Creative Planning now owns 21,412 shares of the construction company’s stock worth $1,271,000 after buying an additional 1,983 shares in the last quarter. Emerald Mutual Fund Advisers Trust lifted its position in Trex by 10.9% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 642,985 shares of the construction company’s stock worth $38,168,000 after buying an additional 63,314 shares in the last quarter. Legal & General Group Plc lifted its position in Trex by 7.6% during the third quarter. Legal & General Group Plc now owns 137,819 shares of the construction company’s stock worth $10,691,000 after buying an additional 9,738 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Trex by 14.1% during the fourth quarter. Raymond James & Associates now owns 60,638 shares of the construction company’s stock worth $3,599,000 after buying an additional 7,497 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.
TREX has been the topic of a number of research analyst reports. DA Davidson initiated coverage on Trex in a research report on Friday, April 5th. They issued a “buy” rating and a $80.00 target price on the stock. Sidoti upgraded Trex from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Friday, March 29th. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th. B. Riley reiterated a “buy” rating and issued a $80.00 price objective (up previously from $71.00) on shares of Trex in a report on Friday, February 15th. Finally, Berenberg Bank reiterated a “buy” rating and issued a $89.00 price objective on shares of Trex in a report on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Trex has a consensus rating of “Hold” and an average target price of $75.13.
TREX traded down $2.08 on Wednesday, hitting $61.43. 873,800 shares of the company were exchanged, compared to its average volume of 878,251. Trex Company Inc has a twelve month low of $50.88 and a twelve month high of $90.74. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 2.74 and a beta of 1.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.73 and a quick ratio of 2.26.
Trex (NYSE:TREX) last released its earnings results on Monday, April 29th. The construction company reported $0.54 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.05). The company had revenue of $179.57 million for the quarter, compared to analyst estimates of $176.75 million. Trex had a return on equity of 40.07% and a net margin of 18.63%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, research analysts anticipate that Trex Company Inc will post 2.39 earnings per share for the current year.
In related news, SVP William R. Gupp sold 4,563 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $68.69, for a total value of $313,432.47. Following the completion of the sale, the senior vice president now directly owns 63,945 shares of the company’s stock, valued at approximately $4,392,382.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James E. Cline sold 11,980 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $68.34, for a total value of $818,713.20. Following the completion of the sale, the insider now directly owns 81,897 shares of the company’s stock, valued at $5,596,840.98. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.
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.
Further Reading: What is the Producer Price Index (PPI)?
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.