Metropolitan Life Insurance Co. NY reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,440 shares of the construction company’s stock after selling 1,441 shares during the period. Metropolitan Life Insurance Co. NY owned 0.07% of Trex worth $1,349,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in Trex by 17.8% in the first quarter. Creative Planning now owns 6,053 shares of the construction company’s stock worth $420,000 after buying an additional 916 shares during the period. Guggenheim Capital LLC increased its stake in Trex by 63.3% in the fourth quarter. Guggenheim Capital LLC now owns 41,472 shares of the construction company’s stock worth $2,671,000 after buying an additional 16,080 shares during the period. Mason Street Advisors LLC increased its stake in Trex by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,871 shares of the construction company’s stock worth $477,000 after buying an additional 448 shares during the period. Vanguard Group Inc. boosted its position in shares of Trex by 6.5% in the first quarter. Vanguard Group Inc. now owns 3,251,958 shares of the construction company’s stock worth $225,653,000 after buying an additional 197,846 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Trex by 3.8% in the first quarter. AQR Capital Management LLC now owns 28,660 shares of the construction company’s stock worth $1,989,000 after buying an additional 1,039 shares in the last quarter. 91.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Trex Company, Inc. (NYSE:TREX) traded down 0.34% during mid-day trading on Friday, hitting $73.51. 210,296 shares of the company were exchanged. Trex Company, Inc. has a 12-month low of $50.81 and a 12-month high of $82.04. The company’s 50-day moving average price is $73.42 and its 200-day moving average price is $69.50. The firm has a market capitalization of $2.16 billion, a P/E ratio of 28.19 and a beta of 2.36.
Trex (NYSE:TREX) last issued its quarterly earnings data on Monday, July 31st. The construction company reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.09. The business had revenue of $158 million during the quarter, compared to analyst estimates of $160.40 million. Trex had a net margin of 15.12% and a return on equity of 56.76%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.79 EPS. Equities research analysts predict that Trex Company, Inc. will post $2.99 earnings per share for the current fiscal year.
TREX has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. BidaskClub upgraded shares of Trex from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. FBR & Co raised their price target on shares of Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a research note on Tuesday, August 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $70.00 target price on shares of Trex in a research note on Friday, July 14th. Finally, Sidoti started coverage on shares of Trex in a research note on Thursday, June 15th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $75.20.
In other news, Director Frank H. Merlotti, Jr. sold 2,093 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $75.71, for a total value of $158,461.03. Following the sale, the director now directly owns 12,640 shares of the company’s stock, valued at approximately $956,974.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher Paul Gerhard sold 3,920 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $79.69, for a total transaction of $312,384.80. Following the sale, the vice president now directly owns 26,560 shares in the company, valued at $2,116,566.40. The disclosure for this sale can be found here. Insiders sold a total of 14,680 shares of company stock worth $1,145,196 over the last ninety days. Insiders own 0.95% of the company’s stock.
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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