Russell Investments Group Ltd. Cuts Stock Holdings in Trex Company Inc (NYSE:TREX)

Russell Investments Group Ltd. lowered its stake in shares of Trex Company Inc (NYSE:TREX) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,389 shares of the construction company’s stock after selling 1,404 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Trex worth $5,402,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TRUE Private Wealth Advisors purchased a new position in Trex during the second quarter worth approximately $43,000. Advisor Group Inc. raised its stake in shares of Trex by 31.6% in the 2nd quarter. Advisor Group Inc. now owns 1,009 shares of the construction company’s stock valued at $72,000 after acquiring an additional 242 shares during the period. Manchester Capital Management LLC purchased a new position in shares of Trex in the 1st quarter valued at $78,000. ETF Managers Group LLC raised its stake in shares of Trex by 10.7% in the 1st quarter. ETF Managers Group LLC now owns 2,631 shares of the construction company’s stock valued at $162,000 after acquiring an additional 255 shares during the period. Finally, Financial Counselors Inc. purchased a new position in shares of Trex in the 1st quarter valued at $205,000. 96.86% of the stock is currently owned by institutional investors.

Shares of NYSE TREX traded down $0.14 during midday trading on Friday, hitting $88.87. The company’s stock had a trading volume of 479,298 shares, compared to its average volume of 527,089. Trex Company Inc has a 1-year low of $50.88 and a 1-year high of $90.74. The firm’s fifty day moving average price is $82.50 and its 200-day moving average price is $72.30. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.99 and a current ratio of 3.51. The firm has a market cap of $5.12 billion, a P/E ratio of 40.23, a P/E/G ratio of 3.71 and a beta of 1.99.

Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. Trex had a net margin of 17.61% and a return on equity of 35.94%. The business had revenue of $206.45 million during the quarter, compared to analyst estimates of $201.70 million. During the same period in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. As a group, research analysts predict that Trex Company Inc will post 2.36 earnings per share for the current fiscal year.

In other news, Director Jay M. Gratz sold 2,817 shares of Trex stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $86.67, for a total value of $244,149.39. Following the completion of the transaction, the director now directly owns 16,515 shares of the company’s stock, valued at approximately $1,431,355.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay T. Scripter sold 25,758 shares of Trex stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $69.15, for a total transaction of $1,781,165.70. Following the completion of the transaction, the vice president now directly owns 573 shares of the company’s stock, valued at $39,622.95. The disclosure for this sale can be found here. Insiders sold a total of 66,330 shares of company stock valued at $5,087,092 over the last ninety days. Company insiders own 0.93% of the company’s stock.

TREX has been the subject of a number of recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a $80.00 price target on shares of Trex in a report on Tuesday, July 30th. SunTrust Banks raised their price target on shares of Trex to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. Sidoti lowered shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 price target for the company. in a report on Tuesday, August 6th. They noted that the move was a valuation call. Stephens set a $90.00 price target on shares of Trex and gave the company a “hold” rating in a report on Wednesday, July 31st. Finally, DA Davidson set a $96.00 price target on shares of Trex and gave the company a “buy” rating in a report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $78.78.

Trex 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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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