Ameritas Investment Partners Inc. continued to hold its position in Trex Company, Inc. (NYSE:TREX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,548 shares of the construction company’s stock at the end of the second quarter. Ameritas Investment Partners Inc.’s holdings in Trex were worth $172,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in Trex by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 22,720 shares of the construction company’s stock worth $1,537,000 after acquiring an additional 104 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Trex by 61.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,722 shares of the construction company’s stock worth $319,000 after acquiring an additional 1,790 shares during the last quarter. State Street Corp boosted its position in Trex by 4.7% during the 2nd quarter. State Street Corp now owns 724,301 shares of the construction company’s stock worth $49,003,000 after acquiring an additional 32,626 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Trex during the 2nd quarter worth approximately $76,849,000. Finally, Macquarie Group Ltd. boosted its position in Trex by 12.4% during the 2nd quarter. Macquarie Group Ltd. now owns 445,190 shares of the construction company’s stock worth $30,122,000 after acquiring an additional 49,000 shares during the last quarter. 92.27% of the stock is owned by hedge funds and other institutional investors.
Trex (NYSE:TREX) last announced its earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the firm earned $0.26 earnings per share.
In other Trex news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $75.71, for a total value of $158,461.03. Following the transaction, the director now owns 12,640 shares of the company’s stock, valued at $956,974.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher Paul Gerhard sold 3,920 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $79.69, for a total value of $312,384.80. Following the completion of the transaction, the vice president now directly owns 26,560 shares in the company, valued at approximately $2,116,566.40. The disclosure for this sale can be found here. 0.95% of the stock is owned by insiders.
Several research firms have recently commented on TREX. SunTrust Banks, Inc. reissued a “hold” rating and issued a $95.00 price objective on shares of Trex in a report on Wednesday. Stifel Nicolaus reissued a “hold” rating and issued a $89.00 price objective on shares of Trex in a report on Wednesday. B. Riley increased their price objective on Trex from $80.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday. Zacks Investment Research raised Trex from a “sell” rating to a “buy” rating and set a $123.00 price objective for the company in a report on Thursday. Finally, BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $90.00.
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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