Nationwide Fund Advisors grew its stake in shares of Trex Company Inc (NYSE:TREX) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,443 shares of the construction company’s stock after buying an additional 11,650 shares during the quarter. Nationwide Fund Advisors owned 0.40% of Trex worth $10,578,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Janus Henderson Group PLC bought a new position in shares of Trex during the second quarter valued at about $76,849,000. Wasatch Advisors Inc. grew its stake in shares of Trex by 9.6% during the second quarter. Wasatch Advisors Inc. now owns 946,311 shares of the construction company’s stock valued at $64,027,000 after buying an additional 83,274 shares during the last quarter. Eagle Asset Management Inc. grew its stake in shares of Trex by 4.9% during the second quarter. Eagle Asset Management Inc. now owns 932,946 shares of the construction company’s stock valued at $63,123,000 after buying an additional 43,648 shares during the last quarter. State Street Corp grew its stake in shares of Trex by 4.7% during the second quarter. State Street Corp now owns 724,301 shares of the construction company’s stock valued at $49,003,000 after buying an additional 32,626 shares during the last quarter. Finally, Macquarie Group Ltd. grew its stake in shares of Trex by 12.4% during the second quarter. Macquarie Group Ltd. now owns 445,190 shares of the construction company’s stock valued at $30,122,000 after buying an additional 49,000 shares during the last quarter. 89.09% of the stock is currently owned by hedge funds and other institutional investors.
Trex Company Inc (NYSE TREX) traded down $1.23 during midday trading on Wednesday, hitting $109.76. The company had a trading volume of 208,100 shares, compared to its average volume of 235,756. The company has a market capitalization of $3,265.87, a PE ratio of 36.63 and a beta of 2.43. Trex Company Inc has a 12 month low of $61.57 and a 12 month high of $118.65.
Trex (NYSE:TREX) last posted its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.13. The company had revenue of $140.19 million for the quarter, compared to analysts’ expectations of $125.30 million. Trex had a return on equity of 51.30% and a net margin of 16.61%. Trex’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. research analysts predict that Trex Company Inc will post 3.11 EPS for the current fiscal year.
In other Trex news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard E. Posey sold 2,322 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $111.19, for a total transaction of $258,183.18. Following the completion of the sale, the director now owns 11,591 shares of the company’s stock, valued at $1,288,803.29. The disclosure for this sale can be found here. Insiders sold 5,596 shares of company stock worth $607,060 over the last three months. 0.95% of the stock is owned by insiders.
A number of research analysts have recently issued reports on TREX shares. BidaskClub cut Trex from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised Trex from a “sell” rating to a “buy” rating and set a $123.00 price objective on the stock in a research note on Thursday, November 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $89.00 price objective on shares of Trex in a research note on Wednesday, November 1st. B. Riley reissued a “hold” rating and issued a $96.00 target price on shares of Trex in a research note on Wednesday, November 8th. Finally, SunTrust Banks reissued a “hold” rating and issued a $95.00 target price on shares of Trex in a research note on Wednesday, November 1st. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Trex presently has a consensus rating of “Hold” and a consensus price target of $90.00.
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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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