Penserra Capital Management LLC grew its stake in Trex Company Inc (NYSE:TREX) by 25.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 730 shares of the construction company’s stock after buying an additional 146 shares during the quarter. Penserra Capital Management LLC’s holdings in Trex were worth $66,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of TREX. Marshall Wace LLP raised its holdings in Trex by 106.8% during the second quarter. Marshall Wace LLP now owns 103,971 shares of the construction company’s stock valued at $7,455,000 after acquiring an additional 53,707 shares during the period. Boston Private Wealth LLC boosted its stake in shares of Trex by 1.2% in the third quarter. Boston Private Wealth LLC now owns 101,121 shares of the construction company’s stock worth $9,195,000 after acquiring an additional 1,175 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of Trex in the second quarter worth about $4,298,000. Stephens Investment Management Group LLC grew its position in shares of Trex by 54.0% during the third quarter. Stephens Investment Management Group LLC now owns 569,720 shares of the construction company’s stock worth $51,805,000 after purchasing an additional 199,849 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Trex by 44.5% during the third quarter. Comerica Bank now owns 105,625 shares of the construction company’s stock worth $9,721,000 after purchasing an additional 32,524 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.
TREX has been the topic of a number of research analyst reports. ValuEngine cut Trex from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. William Blair initiated coverage on shares of Trex in a research report on Thursday, August 22nd. They set an “outperform” rating on the stock. Exane BNP Paribas began coverage on shares of Trex in a research report on Wednesday, October 9th. They set an “underperform” rating on the stock. SunTrust Banks boosted their target price on shares of Trex from $70.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, October 3rd. They noted that the move was a valuation call. Finally, DA Davidson restated a “positive” rating and set a $102.00 target price on shares of Trex in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $85.80.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, October 28th. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The business had revenue of $195.00 million for the quarter, compared to analysts’ expectations of $208.12 million. Trex had a return on equity of 35.80% and a net margin of 18.65%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. On average, analysts anticipate that Trex Company Inc will post 2.41 EPS for the current fiscal year.
In related news, insider Adam Dante Zambanini sold 4,344 shares of Trex stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $84.20, for a total value of $365,764.80. Following the completion of the transaction, the insider now owns 88,229 shares in the company, valued at $7,428,881.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Bryan Horix Fairbanks sold 11,435 shares of the business’s 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 in the company, valued at $3,887,006.56. The disclosure for this sale can be found here. Insiders sold 21,388 shares of company stock worth $1,802,560 in the last 90 days. 0.93% of the stock is currently owned by company insiders.
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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