Curbstone Financial Management Corp Sells 3,250 Shares of Trex Company, Inc. (NYSE:TREX)


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Curbstone Financial Management Corp lowered its holdings in Trex Company, Inc. (NYSE:TREX) by 9.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,680 shares of the construction company’s stock after selling 3,250 shares during the period. Curbstone Financial Management Corp’s holdings in Trex were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Renaissance Investment Group LLC acquired a new stake in Trex in the first quarter valued at $566,000. DekaBank Deutsche Girozentrale lifted its stake in Trex by 130.2% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 104,070 shares of the construction company’s stock valued at $8,578,000 after acquiring an additional 58,870 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Trex in the fourth quarter valued at $2,606,000. Norges Bank acquired a new stake in Trex in the fourth quarter valued at $104,656,000. Finally, UBS Asset Management Americas Inc. lifted its stake in Trex by 12.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 189,965 shares of the construction company’s stock valued at $15,904,000 after acquiring an additional 20,333 shares during the last quarter. 98.56% of the stock is owned by institutional investors and hedge funds.

TREX stock traded up $0.19 during mid-day trading on Thursday, hitting $94.93. The stock had a trading volume of 1,384 shares, compared to its average volume of 790,177. The firm has a market capitalization of $11.00 billion, a P/E ratio of 66.42 and a beta of 1.46. The firm has a fifty day simple moving average of $93.52 and a 200 day simple moving average of $84.64. Trex Company, Inc. has a 52 week low of $37.03 and a 52 week high of $107.64.

Trex (NYSE:TREX) last announced its quarterly earnings results on Sunday, February 21st. The construction company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $228.29 million for the quarter, compared to analyst estimates of $215.99 million. Trex had a net margin of 20.53% and a return on equity of 35.52%. The firm’s revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. As a group, analysts anticipate that Trex Company, Inc. will post 1.54 earnings per share for the current year.

In related news, CEO Bryan Horix Fairbanks sold 4,000 shares of Trex stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $92.02, for a total transaction of $368,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James E. Cline sold 12,588 shares of Trex stock in a transaction that occurred on Wednesday, February 24th. The stock was sold at an average price of $92.13, for a total transaction of $1,159,732.44. The disclosure for this sale can be found here. Insiders have sold a total of 20,280 shares of company stock worth $1,860,572 over the last ninety days. 0.79% of the stock is currently owned by insiders.

A number of research firms have recently issued reports on TREX. Loop Capital began coverage on shares of Trex in a research note on Wednesday. They set a “buy” rating and a $110.00 target price for the company. BMO Capital Markets began coverage on shares of Trex in a research note on Wednesday, January 13th. They set a “market perform” rating and a $90.00 target price for the company. Barclays raised their target price on shares of Trex from $82.00 to $99.00 and gave the stock an “equal weight” rating in a research note on Monday, March 1st. Robert W. Baird lifted their price objective on shares of Trex from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. Finally, Zacks Investment Research cut shares of Trex from a “buy” rating to a “hold” rating in a research note on Friday, February 26th. Thirteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Trex has an average rating of “Hold” and a consensus target price of $82.03.

About Trex

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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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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