Panagora Asset Management Inc. Has $9.61 Million Position in Trex Company Inc (TREX)

Panagora Asset Management Inc. increased its position in shares of Trex Company Inc (NYSE:TREX) by 3.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,829 shares of the construction company’s stock after purchasing an additional 3,667 shares during the period. Panagora Asset Management Inc.’s holdings in Trex were worth $9,609,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TREX. PNC Financial Services Group Inc. increased its holdings in Trex by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 30,998 shares of the construction company’s stock valued at $2,385,000 after buying an additional 813 shares in the last quarter. American International Group Inc. increased its holdings in Trex by 1.9% in the third quarter. American International Group Inc. now owns 46,382 shares of the construction company’s stock valued at $3,570,000 after buying an additional 858 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Trex by 4.9% in the third quarter. Janney Montgomery Scott LLC now owns 19,356 shares of the construction company’s stock valued at $1,490,000 after buying an additional 900 shares in the last quarter. Advisory Services Network LLC increased its holdings in Trex by 100.0% in the second quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock valued at $133,000 after buying an additional 1,000 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in Trex by 2.3% in the third quarter. Aperio Group LLC now owns 53,269 shares of the construction company’s stock valued at $4,101,000 after buying an additional 1,193 shares in the last quarter. 89.62% of the stock is owned by hedge funds and other institutional investors.

Shares of Trex stock opened at $65.20 on Tuesday. Trex Company Inc has a 12-month low of $50.72 and a 12-month high of $90.74. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 41.27 and a beta of 2.27.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 29th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.05. Trex had a net margin of 19.16% and a return on equity of 46.55%. The company had revenue of $166.38 million during the quarter, compared to analysts’ expectations of $173.10 million. During the same period last year, the company posted $0.68 earnings per share. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Trex Company Inc will post 2.29 EPS for the current year.

A number of research analysts have issued reports on TREX shares. Sidoti cut shares of Trex from a “buy” rating to a “neutral” rating in a report on Friday, August 10th. SunTrust Banks dropped their target price on shares of Trex to $58.00 and set a “hold” rating for the company in a report on Tuesday, October 30th. Finally, Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $36.35.

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About Trex

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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