Trex Company, Inc. (TREX) Position Trimmed by LPL Financial LLC

LPL Financial LLC trimmed its position in shares of Trex Company, Inc. (NYSE:TREX) by 9.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,903 shares of the construction company’s stock after selling 608 shares during the period. LPL Financial LLC’s holdings in Trex were worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. boosted its position in Trex by 27.7% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,546 shares of the construction company’s stock worth $228,000 after purchasing an additional 553 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Trex by 15.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,741 shares of the construction company’s stock worth $514,000 after purchasing an additional 622 shares during the period. AGF Investments Inc. boosted its position in Trex by 4.2% during the fourth quarter. AGF Investments Inc. now owns 15,410 shares of the construction company’s stock worth $1,670,000 after purchasing an additional 624 shares during the period. Profund Advisors LLC boosted its position in Trex by 17.5% during the fourth quarter. Profund Advisors LLC now owns 4,652 shares of the construction company’s stock worth $504,000 after purchasing an additional 692 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Trex by 6.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the construction company’s stock worth $1,377,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 91.05% of the company’s stock.

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In related news, SVP William R. Gupp sold 3,500 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $105.99, for a total transaction of $370,965.00. Following the completion of the sale, the senior vice president now owns 36,438 shares of the company’s stock, valued at $3,862,063.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay M. Gratz sold 1,058 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $116.95, for a total transaction of $123,733.10. Following the sale, the director now directly owns 8,801 shares of the company’s stock, valued at approximately $1,029,276.95. The disclosure for this sale can be found here. In the last three months, insiders sold 42,592 shares of company stock valued at $4,582,460. 0.95% of the stock is currently owned by company insiders.

Shares of Trex stock opened at $110.60 on Monday. The stock has a market capitalization of $3,253.33, a PE ratio of 35.00 and a beta of 2.25. Trex Company, Inc. has a 52-week low of $61.57 and a 52-week high of $120.40.

Trex (NYSE:TREX) last announced its earnings results on Wednesday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. The company had revenue of $122.21 million during the quarter, compared to analysts’ expectations of $118.48 million. Trex had a net margin of 16.83% and a return on equity of 46.94%. Trex’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. sell-side analysts forecast that Trex Company, Inc. will post 4.2 EPS for the current year.

Trex announced that its board has authorized a stock buyback program on Wednesday, February 21st that permits the company to buyback 2,900,000 shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

A number of research firms have commented on TREX. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Tuesday, February 27th. B. Riley lifted their price objective on shares of Trex from $125.00 to $126.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $110.00 price objective (up from $100.00) on shares of Trex in a research report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $102.00.

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Trex Profile

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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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