Trex Company Inc (TREX) Director Frank H. Merlotti, Jr. Sells 3,051 Shares

Trex Company Inc (NYSE:TREX) Director Frank H. Merlotti, Jr. sold 3,051 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $77.39, for a total value of $236,116.89. Following the sale, the director now directly owns 24,242 shares of the company’s stock, valued at approximately $1,876,088.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

TREX stock traded up $1.83 on Thursday, reaching $79.25. The company’s stock had a trading volume of 9,808 shares, compared to its average volume of 425,918. Trex Company Inc has a 12-month low of $35.96 and a 12-month high of $80.19. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of 49.24 and a beta of 2.40.

Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, July 30th. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Trex had a return on equity of 46.45% and a net margin of 18.48%. The company had revenue of $206.69 million during the quarter, compared to analyst estimates of $190.80 million. During the same quarter last year, the firm posted $0.97 earnings per share. The firm’s revenue was up 30.9% on a year-over-year basis. research analysts predict that Trex Company Inc will post 2.26 EPS for the current year.

A number of analysts have recently weighed in on the company. Zacks Investment Research lowered Trex from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Sidoti lowered Trex from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. ValuEngine lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, B. Riley raised their price target on Trex to $31.50 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $28.58.

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC purchased a new position in Trex during the second quarter valued at $328,000. California Public Employees Retirement System lifted its position in Trex by 81.5% during the second quarter. California Public Employees Retirement System now owns 226,818 shares of the construction company’s stock valued at $14,197,000 after buying an additional 101,857 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in Trex by 99.4% during the second quarter. Disciplined Growth Investors Inc. MN now owns 733,892 shares of the construction company’s stock valued at $45,934,000 after buying an additional 365,780 shares during the period. Putnam Investments LLC lifted its position in Trex by 99.2% during the second quarter. Putnam Investments LLC now owns 69,025 shares of the construction company’s stock valued at $4,320,000 after buying an additional 34,381 shares during the period. Finally, Waddell & Reed Financial Inc. lifted its position in Trex by 128.8% during the second quarter. Waddell & Reed Financial Inc. now owns 1,005,452 shares of the construction company’s stock valued at $62,932,000 after buying an additional 566,063 shares during the period. 52.60% of the stock is owned by institutional investors.

About Trex

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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