Curbstone Financial Management Corp Sells 3,250 Shares of Trex Company, Inc. (NYSE:TREX)

Curbstone Financial Management Corp cut its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 9.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 30,680 shares of the construction company’s stock after selling 3,250 shares during the quarter. Curbstone Financial Management Corp’s holdings in Trex were worth $2,808,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TREX. Perigon Wealth Management LLC purchased a new stake in Trex during the fourth quarter valued at about $27,000. HM Payson & Co. lifted its holdings in Trex by 100.0% during the third quarter. HM Payson & Co. now owns 400 shares of the construction company’s stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Tompkins Financial Corp purchased a new stake in Trex during the fourth quarter valued at about $31,000. Graves Light Private Wealth Management Inc. purchased a new stake in Trex during the fourth quarter valued at about $33,000. Finally, Montag A & Associates Inc. purchased a new stake in Trex during the fourth quarter valued at about $39,000. 98.56% of the stock is currently owned by institutional investors and hedge funds.

NYSE TREX traded up $0.19 on Thursday, reaching $94.93. 1,384 shares of the company’s stock traded hands, compared to its average volume of 790,177. Trex Company, Inc. has a 12 month low of $37.03 and a 12 month high of $107.64. The stock has a 50-day simple moving average of $93.52 and a 200 day simple moving average of $84.64. The stock has a market cap of $11.00 billion, a PE ratio of 66.42 and a beta of 1.46.

Trex (NYSE:TREX) last issued its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Trex had a net margin of 20.53% and a return on equity of 35.52%. The business had revenue of $228.29 million for the quarter, compared to analysts’ expectations of $215.99 million. During the same period last year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities analysts predict that Trex Company, Inc. will post 1.54 EPS for the current fiscal year.

In other news, Director James E. Cline sold 12,588 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $92.13, for a total value of $1,159,732.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bryan Horix Fairbanks sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $92.02, for a total transaction of $368,080.00. The disclosure for this sale can be found here. Insiders have sold 20,280 shares of company stock worth $1,860,572 over the last quarter. Company insiders own 0.79% of the company’s stock.

TREX has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Trex from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, March 1st. BMO Capital Markets initiated coverage on shares of Trex in a report on Wednesday, January 13th. They issued a “market perform” rating and a $90.00 price target on the stock. Loop Capital initiated coverage on shares of Trex in a report on Wednesday. They issued a “buy” rating and a $110.00 price target on the stock. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a report on Friday, February 26th. Finally, DA Davidson increased their price target on shares of Trex from $75.00 to $95.00 and gave the stock a “neutral” rating in a report on Monday, March 1st. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $82.03.

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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