Los Angeles Capital Management & Equity Research Inc. Raises Holdings in Trex Company Inc (TREX)

Los Angeles Capital Management & Equity Research Inc. lifted its position in Trex Company Inc (NYSE:TREX) by 44.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,156 shares of the construction company’s stock after purchasing an additional 8,730 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Trex were worth $1,732,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Trex by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,843,017 shares of the construction company’s stock worth $449,795,000 after buying an additional 128,870 shares in the last quarter. Vanguard Group Inc lifted its position in Trex by 2.3% during the third quarter. Vanguard Group Inc now owns 5,843,017 shares of the construction company’s stock worth $449,795,000 after buying an additional 128,870 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Trex by 2.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,403,288 shares of the construction company’s stock worth $83,298,000 after buying an additional 37,952 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in Trex by 1.7% during the first quarter. Conestoga Capital Advisors LLC now owns 1,179,679 shares of the construction company’s stock worth $72,574,000 after buying an additional 19,237 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Trex by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,097,263 shares of the construction company’s stock worth $84,467,000 after buying an additional 32,774 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

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.

A number of brokerages recently commented on TREX. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. 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. Stifel Nicolaus upgraded Trex from a “hold” rating to a “buy” rating and lifted their target price for the company from $70.00 to $72.00 in a research report on Thursday, March 28th. B. Riley downgraded Trex from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $72.00 in a research report on Tuesday, April 30th. 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.

In other 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 transaction of $313,432.47. Following the completion of the transaction, the senior vice president now directly owns 63,945 shares of the company’s stock, valued at approximately $4,392,382.05. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.

TRADEMARK VIOLATION NOTICE: “Los Angeles Capital Management & Equity Research Inc. Raises Holdings in Trex Company Inc (TREX)” was published by Sundance Herald and is the property of of Sundance Herald. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://sundanceherald.com/2019/05/29/trex-company-inc-trex-position-lifted-by-los-angeles-capital-management-equity-research-inc.html.

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.

See Also: Growth Stocks

Institutional Ownership by Quarter for Trex (NYSE:TREX)

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.



Leave a Reply