Northern Trust Corp increased its stake in shares of Trex Company Inc (NYSE:TREX) by 104.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 792,850 shares of the construction company’s stock after buying an additional 405,349 shares during the quarter. Northern Trust Corp owned about 1.35% of Trex worth $49,624,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Trex by 111.2% in the 2nd quarter. BlackRock Inc. now owns 8,768,747 shares of the construction company’s stock valued at $548,836,000 after purchasing an additional 4,616,478 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of Trex by 95.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,903,782 shares of the construction company’s stock valued at $119,157,000 after purchasing an additional 928,019 shares in the last quarter. Wasatch Advisors Inc. boosted its holdings in shares of Trex by 114.1% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,819,058 shares of the construction company’s stock valued at $113,855,000 after purchasing an additional 969,587 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Trex by 73.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,441,828 shares of the construction company’s stock valued at $90,245,000 after purchasing an additional 609,638 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Trex by 113.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 1,385,177 shares of the construction company’s stock valued at $86,698,000 after purchasing an additional 734,753 shares in the last quarter. 89.60% of the stock is currently owned by institutional investors and hedge funds.
Shares of TREX stock opened at $64.39 on Friday. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 40.75 and a beta of 2.39. Trex Company Inc has a fifty-two week low of $42.56 and a fifty-two week high of $90.74.
Trex (NYSE:TREX) last issued its earnings results on Monday, July 30th. The construction company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.08. The firm had revenue of $206.69 million for the quarter, compared to the consensus estimate of $190.80 million. Trex had a return on equity of 46.45% and a net margin of 18.48%. The company’s revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. Equities research analysts expect that Trex Company Inc will post 2.35 earnings per share for the current year.
In related news, VP Jay T. Scripter sold 11,812 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $78.34, for a total transaction of $925,352.08. Following the sale, the vice president now owns 37,696 shares of the company’s stock, valued at approximately $2,953,104.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard E. Posey sold 2,862 shares of the firm’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $77.43, for a total value of $221,604.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,175 shares of company stock worth $2,057,493. 1.17% of the stock is currently owned by company insiders.
TREX has been the topic of a number of research analyst reports. ValuEngine downgraded Trex from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Sidoti downgraded Trex from a “buy” rating to a “neutral” rating in a report on Friday, August 10th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $28.58.
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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