State Treasurer State of Michigan cut its holdings in Trex Company Inc (NYSE:TREX) by 17.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,300 shares of the construction company’s stock after selling 3,600 shares during the quarter. State Treasurer State of Michigan’s holdings in Trex were worth $1,240,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new stake in Trex in the first quarter worth about $26,000. CENTRAL TRUST Co lifted its position in shares of Trex by 189.7% during the first quarter. CENTRAL TRUST Co now owns 504 shares of the construction company’s stock valued at $31,000 after buying an additional 330 shares during the last quarter. FMR LLC lifted its position in shares of Trex by 27.9% during the fourth quarter. FMR LLC now owns 632 shares of the construction company’s stock valued at $38,000 after buying an additional 138 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Trex during the first quarter valued at about $60,000. Finally, Manchester Capital Management LLC purchased a new stake in shares of Trex during the first quarter valued at about $78,000. 94.42% of the stock is owned by institutional investors.
In other news, VP Jay T. Scripter sold 23,762 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $69.19, for a total transaction of $1,644,092.78. Following the transaction, the vice president now owns 573 shares in the company, valued at $39,645.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher Paul Gerhard sold 9,724 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $81.10, for a total transaction of $788,616.40. Following the transaction, the vice president now owns 25,810 shares in the company, valued at approximately $2,093,191. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,275 shares of company stock worth $6,487,036. Corporate insiders own 0.93% of the company’s stock.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. Trex had a net margin of 17.61% and a return on equity of 35.94%. The business had revenue of $206.45 million during the quarter, compared to analyst estimates of $201.70 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company Inc will post 2.38 EPS for the current year.
Several analysts have commented on TREX shares. Stephens set a $90.00 price target on shares of Trex and gave the company a “hold” rating in a research report on Wednesday, July 31st. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 price target for the company. in a research report on Tuesday, August 6th. They noted that the move was a valuation call. DA Davidson increased their price target on shares of Trex to $87.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. SunTrust Banks increased their price target on shares of Trex to $70.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Trex presently has a consensus rating of “Hold” and a consensus target price of $77.78.
Trex Company Profile
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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