Richard E. Posey Sells 3,167 Shares of Trex Company, Inc. (TREX) Stock
Trex Company, Inc. (NYSE:TREX) Director Richard E. Posey sold 3,167 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $80.00, for a total value of $253,360.00. Following the sale, the director now owns 11,795 shares of the company’s stock, valued at $943,600. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Trex Company, Inc. (NYSE TREX) traded down 0.72% during midday trading on Monday, reaching $79.10. The company’s stock had a trading volume of 206,122 shares. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 30.33 and a beta of 2.36. The company’s 50-day moving average is $70.20 and its 200 day moving average is $68.76. Trex Company, Inc. has a 12-month low of $50.81 and a 12-month high of $82.04.
Trex (NYSE:TREX) last released its earnings results on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.09. The firm had revenue of $158 million for the quarter, compared to analysts’ expectations of $160.40 million. Trex had a return on equity of 56.76% and a net margin of 15.12%. The company’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. Equities analysts forecast that Trex Company, Inc. will post $2.99 earnings per share for the current year.
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TREX has been the subject of several analyst reports. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Wednesday, April 26th. Seaport Global Securities upgraded Trex from a “neutral” rating to a “buy” rating and set a $74.00 target price for the company in a report on Thursday, June 1st. Sidoti initiated coverage on Trex in a report on Thursday, June 15th. They set a “buy” rating for the company. Finally, BidaskClub upgraded Trex from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $75.20.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. acquired a new position in Trex during the first quarter worth approximately $103,000. Russell Investments Group Ltd. purchased a new stake in shares of Trex during the fourth quarter worth about $127,000. PNC Financial Services Group Inc. raised its stake in shares of Trex by 2.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock worth $142,000 after buying an additional 56 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Trex by 12.9% in the second quarter. Victory Capital Management Inc. now owns 2,465 shares of the construction company’s stock worth $167,000 after buying an additional 282 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Trex during the first quarter worth about $177,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
Trex Company Profile
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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