Alliancebernstein L.P. boosted its stake in shares of Trex Company Inc (NYSE:TREX) by 48.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,118,291 shares of the construction company’s stock after buying an additional 693,092 shares during the period. Alliancebernstein L.P. owned approximately 3.63% of Trex worth $190,392,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. AXA acquired a new stake in shares of Trex in the fourth quarter valued at approximately $2,085,000. Man Group plc raised its holdings in shares of Trex by 65.8% in the fourth quarter. Man Group plc now owns 44,407 shares of the construction company’s stock valued at $3,991,000 after purchasing an additional 17,623 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Trex by 523.6% in the fourth quarter. Baird Financial Group Inc. now owns 403,142 shares of the construction company’s stock valued at $36,234,000 after purchasing an additional 338,496 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Trex by 11.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,296 shares of the construction company’s stock valued at $567,000 after purchasing an additional 624 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Trex in the fourth quarter valued at approximately $97,000.
In other news, CEO James E. Cline sold 12,100 shares of Trex stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $101.02, for a total transaction of $1,222,342.00. Following the completion of the sale, the chief executive officer now owns 72,422 shares of the company’s stock, valued at $7,316,070.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Dante Zambanini sold 3,395 shares of Trex stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $96.42, for a total value of $327,345.90. Following the sale, the insider now directly owns 89,620 shares of the company’s stock, valued at approximately $8,641,160.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,319 shares of company stock valued at $2,322,218. Company insiders own 0.79% of the company’s stock.
NYSE:TREX opened at $81.47 on Thursday. Trex Company Inc has a 1-year low of $56.22 and a 1-year high of $111.85. The company has a current ratio of 3.85, a quick ratio of 3.14 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $93.22 and a 200 day simple moving average of $90.91. The stock has a market capitalization of $3.90 billion, a PE ratio of 32.85 and a beta of 1.72.
Trex (NYSE:TREX) last released its earnings results on Monday, February 24th. The construction company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.10. Trex had a net margin of 19.42% and a return on equity of 36.01%. The business had revenue of $164.77 million during the quarter, compared to analysts’ expectations of $159.36 million. During the same period last year, the business earned $0.43 earnings per share. The firm’s revenue was up 17.7% on a year-over-year basis. On average, equities analysts predict that Trex Company Inc will post 2.94 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on TREX shares. B. Riley lowered their price objective on shares of Trex from $102.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, March 17th. Deutsche Bank lowered their price objective on shares of Trex from $99.00 to $79.00 and set a “hold” rating on the stock in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Trex from $99.00 to $115.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Benchmark began coverage on shares of Trex in a research note on Thursday, March 5th. They issued a “buy” rating and a $126.00 target price for the company. Finally, Berenberg Bank reissued a “buy” rating and issued a $98.00 target price on shares of Trex in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $98.10.
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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