OppenheimerFunds Inc. reduced its position in Trex Company Inc (NYSE:TREX) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,980 shares of the construction company’s stock after selling 17,263 shares during the quarter. OppenheimerFunds Inc.’s holdings in Trex were worth $28,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of TREX. Advisors Preferred LLC bought a new position in shares of Trex in the first quarter worth approximately $26,000. CENTRAL TRUST Co boosted its position in shares of Trex by 189.7% in the first quarter. CENTRAL TRUST Co now owns 504 shares of the construction company’s stock worth $31,000 after purchasing an additional 330 shares during the period. FMR LLC boosted its position in shares of Trex by 27.9% in the fourth quarter. FMR LLC now owns 632 shares of the construction company’s stock worth $38,000 after purchasing an additional 138 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of Trex by 30.8% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 850 shares of the construction company’s stock worth $50,000 after purchasing an additional 200 shares during the period. Finally, Quantamental Technologies LLC bought a new position in shares of Trex in the first quarter worth approximately $60,000. Institutional investors and hedge funds own 96.86% of the company’s stock.
In other Trex news, SVP William R. Gupp sold 4,563 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.69, for a total transaction of $313,432.47. Following the completion of the transaction, the senior vice president now owns 63,945 shares in the company, valued at $4,392,382.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James E. Cline sold 11,980 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $68.34, for a total transaction of $818,713.20. Following the transaction, the insider now owns 81,897 shares of the company’s stock, valued at approximately $5,596,840.98. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.
Shares of NYSE:TREX opened at $70.43 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.73 and a quick ratio of 2.26. Trex Company Inc has a fifty-two week low of $50.88 and a fifty-two week high of $90.74. The firm has a market cap of $4.02 billion, a P/E ratio of 29.97, a P/E/G ratio of 2.85 and a beta of 2.06.
Trex (NYSE:TREX) last issued its earnings results on Monday, April 29th. The construction company reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.05). Trex had a return on equity of 40.07% and a net margin of 18.63%. The company had revenue of $179.57 million for the quarter, compared to the consensus estimate of $176.75 million. During the same quarter in the prior year, the company posted $0.63 EPS. Trex’s revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Trex Company Inc will post 2.41 earnings per share for the current year.
A number of equities analysts have weighed in on the stock. SunTrust Banks dropped their price target on shares of Trex to $63.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Trex from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. B. Riley lowered shares of Trex from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $72.00 in a research report on Tuesday, April 30th. Berenberg Bank restated a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Monday. Finally, Stifel Nicolaus upgraded shares of Trex from a “hold” rating to a “buy” rating and upped their target price for the stock from $70.00 to $72.00 in a research report on Thursday, March 28th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Trex currently has an average rating of “Hold” and a consensus price target of $74.00.
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.
See Also: What is the NASDAQ?
Want to see what other hedge funds are holding TREX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Trex Company Inc (NYSE:TREX).
Receive News & Ratings for Trex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trex and related companies with MarketBeat.com's FREE daily email newsletter.