Westwood Holdings Group Inc. boosted its holdings in Trex Company, Inc. (NYSE:TREX) by 41.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 285,829 shares of the construction company’s stock after buying an additional 83,716 shares during the period. Westwood Holdings Group Inc. owned 0.97% of Trex worth $19,340,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Alps Advisors Inc. increased its stake in Trex by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,776 shares of the construction company’s stock worth $458,000 after buying an additional 18 shares in the last quarter. Pinebridge Investments L.P. grew its position in shares of Trex by 1.1% during the second quarter. Pinebridge Investments L.P. now owns 3,873 shares of the construction company’s stock valued at $262,000 after purchasing an additional 41 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Trex by 2.8% during the first quarter. PNC Financial Services Group Inc. now owns 2,050 shares of the construction company’s stock valued at $142,000 after purchasing an additional 56 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Trex by 1.6% during the second quarter. Virginia Retirement Systems ET AL now owns 6,200 shares of the construction company’s stock valued at $419,000 after purchasing an additional 100 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Trex by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock valued at $1,537,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 91.83% of the company’s stock.
Shares of Trex Company, Inc. (NYSE:TREX) traded down 0.555% on Friday, hitting $86.835. The stock had a trading volume of 62,644 shares. Trex Company, Inc. has a 12 month low of $50.81 and a 12 month high of $90.09. The firm’s 50-day moving average price is $81.82 and its 200 day moving average price is $72.75. The firm has a market cap of $2.55 billion, a P/E ratio of 33.296 and a beta of 2.34.
Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.09. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company had revenue of $158.00 million during the quarter, compared to analysts’ expectations of $160.40 million. During the same quarter in the prior year, the company earned $0.79 EPS. Trex’s revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Trex Company, Inc. will post $2.99 EPS for the current fiscal year.
TREX has been the subject of a number of research analyst reports. Sidoti initiated coverage on Trex in a research report on Thursday, June 15th. They set a “buy” rating for the company. BidaskClub upgraded Trex from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Stifel Nicolaus restated a “hold” rating and set a $70.00 price objective on shares of Trex in a research report on Friday, July 14th. FBR & Co raised their price objective on Trex from $69.00 to $80.00 and gave the company a “mkt perform” rating in a research report on Tuesday, August 1st. Finally, Griffin Securities lowered Trex from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Trex currently has a consensus rating of “Hold” and a consensus target price of $77.50.
In related news, CFO Bryan Horix Fairbanks sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $75.43, for a total transaction of $150,860.00. Following the completion of the sale, the chief financial officer now owns 18,167 shares of the company’s stock, valued at approximately $1,370,336.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP William R. Gupp sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $77.18, for a total transaction of $270,130.00. Following the sale, the senior vice president now directly owns 41,711 shares of the company’s stock, valued at approximately $3,219,254.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,680 shares of company stock valued at $1,145,196. 0.95% of the stock is owned by corporate insiders.
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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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