Red Spruce Capital LLC acquired a new position in shares of Trex Company Inc (NYSE:TREX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,978 shares of the construction company’s stock, valued at approximately $717,000.
A number of other large investors have also recently made changes to their positions in TREX. Bamco Inc. NY raised its holdings in Trex by 38.5% during the 2nd quarter. Bamco Inc. NY now owns 2,733,942 shares of the construction company’s stock worth $196,024,000 after purchasing an additional 760,669 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Trex by 252.2% in the 2nd quarter. Victory Capital Management Inc. now owns 793,919 shares of the construction company’s stock valued at $56,925,000 after acquiring an additional 568,530 shares during the last quarter. Macquarie Group Ltd. increased its stake in shares of Trex by 94.1% in the 2nd quarter. Macquarie Group Ltd. now owns 921,042 shares of the construction company’s stock valued at $66,039,000 after acquiring an additional 446,444 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Trex by 3,641.5% in the 2nd quarter. Balyasny Asset Management LLC now owns 455,308 shares of the construction company’s stock valued at $32,646,000 after acquiring an additional 443,139 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Trex by 1,377.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 342,288 shares of the construction company’s stock valued at $24,543,000 after acquiring an additional 319,122 shares during the last quarter.
In related news, insider Adam Dante Zambanini sold 4,344 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $84.20, for a total transaction of $365,764.80. Following the completion of the sale, the insider now directly owns 88,229 shares of the company’s stock, valued at approximately $7,428,881.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Bryan Horix Fairbanks sold 11,435 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $83.92, for a total value of $959,625.20. Following the sale, the chief financial officer now directly owns 46,318 shares of the company’s stock, valued at $3,887,006.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,571 shares of company stock valued at $1,558,410. 0.93% of the stock is owned by company insiders.
NYSE TREX opened at $98.95 on Thursday. The business has a 50 day simple moving average of $89.44 and a 200 day simple moving average of $84.93. Trex Company Inc has a 52-week low of $57.55 and a 52-week high of $99.64. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.02 and a current ratio of 3.52. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 3.27 and a beta of 1.89.
Trex (NYSE:TREX) last posted its earnings results on Monday, October 28th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Trex had a return on equity of 35.80% and a net margin of 18.65%. The business had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $208.12 million. During the same period in the prior year, the business earned $0.57 EPS. Trex’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, analysts predict that Trex Company Inc will post 2.4 EPS for the current year.
A number of analysts have recently commented on TREX shares. Deutsche Bank started coverage on Trex in a research note on Wednesday, November 27th. They issued a “hold” rating for the company. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $101.00 price target for the company in a research note on Wednesday, January 1st. B. Riley upped their price target on Trex from $72.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. ValuEngine cut Trex from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, DA Davidson reaffirmed a “positive” rating and issued a $102.00 price target on shares of Trex in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. Trex presently has a consensus rating of “Hold” and an average target price of $92.22.
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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