Nordea Investment Management AB increased its stake in Trex Co. (NYSE:TREX) by 24.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,005 shares of the company’s stock after buying an additional 3,738 shares during the period. Nordea Investment Management AB owned about 0.06% of Trex worth $1,116,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fiera Capital Corp purchased a new stake in shares of Trex during the second quarter worth approximately $12,792,000. Pembroke Management LTD bought a new stake in shares of Trex during the second quarter worth approximately $9,060,000. Eagle Asset Management Inc. raised its stake in shares of Trex by 11.4% in the second quarter. Eagle Asset Management Inc. now owns 678,636 shares of the company’s stock worth $30,484,000 after buying an additional 69,664 shares in the last quarter. State Street Corp raised its stake in shares of Trex by 13.1% in the first quarter. State Street Corp now owns 595,269 shares of the company’s stock worth $28,531,000 after buying an additional 68,782 shares in the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Trex during the second quarter worth approximately $2,531,000. 93.63% of the stock is owned by hedge funds and other institutional investors.
Trex Co. (NYSE:TREX) traded up 1.63% during mid-day trading on Friday, reaching $70.96. 65,621 shares of the company’s stock traded hands. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 34.36 and a beta of 2.21. The firm’s 50-day moving average price is $59.70 and its 200 day moving average price is $53.45. Trex Co. has a one year low of $31.11 and a one year high of $72.21.
Trex (NYSE:TREX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.03. The firm had revenue of $106.20 million for the quarter, compared to analyst estimates of $105.14 million. Trex had a net margin of 13.02% and a return on equity of 65.45%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share. On average, equities analysts forecast that Trex Co. will post $2.43 EPS for the current year.
A number of equities analysts have recently weighed in on TREX shares. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a research note on Thursday. Seaport Global Securities assumed coverage on Trex in a research note on Tuesday. They issued a “neutral” rating on the stock. FBR & Co downgraded Trex from an “outperform” rating to a “market perform” rating and set a $61.00 price objective on the stock. in a research note on Tuesday. CL King downgraded Trex from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their price objective on Trex from $56.00 to $58.00 and gave the company a “hold” rating in a research note on Wednesday, November 9th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $63.00.
In other news, VP Adam Dante Zambanini sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $61.61, for a total value of $353,025.30. Following the transaction, the vice president now directly owns 34,396 shares of the company’s stock, valued at $2,119,137.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard E. Posey sold 2,180 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $68.44, for a total transaction of $149,199.20. Following the completion of the transaction, the director now directly owns 16,235 shares in the company, valued at $1,111,123.40. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.
Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company markets its products under the brand name Trex. The Company offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories. Its decking products include Trex Transcend, Trex Enhance and Trex Select.