Trex Company Inc (TREX) Director Sells $236,116.89 in Stock

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Trex Company Inc (NYSE:TREX) Director Frank H. Merlotti, Jr. sold 3,051 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $77.39, for a total value of $236,116.89. Following the transaction, the director now owns 24,242 shares in the company, valued at approximately $1,876,088.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of TREX stock opened at $81.07 on Friday. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 51.31 and a beta of 2.40. Trex Company Inc has a 12-month low of $35.96 and a 12-month high of $81.39.

Trex (NYSE:TREX) last released its earnings results on Monday, July 30th. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The business had revenue of $206.69 million for the quarter, compared to the consensus estimate of $190.80 million. Trex had a return on equity of 46.45% and a net margin of 18.48%. The business’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. equities analysts forecast that Trex Company Inc will post 2.26 EPS for the current fiscal year.

A number of equities analysts have issued reports on the company. Sidoti upgraded Trex from a “neutral” rating to a “buy” rating and set a $31.75 price target on the stock in a research report on Tuesday, May 8th. B. Riley increased their price target on Trex to $31.50 and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. Finally, ValuEngine downgraded Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $28.58.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TREX. BlackRock Inc. lifted its position in shares of Trex by 111.2% in the second quarter. BlackRock Inc. now owns 8,768,747 shares of the construction company’s stock valued at $548,836,000 after acquiring an additional 4,616,478 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Trex by 114.1% in the second quarter. Wasatch Advisors Inc. now owns 1,819,058 shares of the construction company’s stock valued at $113,855,000 after acquiring an additional 969,587 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Trex by 95.1% in the second quarter. Eagle Asset Management Inc. now owns 1,903,782 shares of the construction company’s stock valued at $119,157,000 after acquiring an additional 928,019 shares in the last quarter. Conestoga Capital Advisors LLC lifted its position in shares of Trex by 113.0% in the second quarter. Conestoga Capital Advisors LLC now owns 1,385,177 shares of the construction company’s stock valued at $86,698,000 after acquiring an additional 734,753 shares in the last quarter. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Trex by 106.0% in the second quarter. Carillon Tower Advisers Inc. now owns 1,311,900 shares of the construction company’s stock valued at $82,111,000 after acquiring an additional 674,991 shares in the last quarter. Institutional investors and hedge funds own 52.60% of the company’s stock.

Trex Company Profile

Trex Company, Inc manufactures and distributes wood/plastic composite products, and related accessories primarily for the residential and commercial decking, and railing applications in the United States. It offers Trex Transcend, Trex Enhance, and Trex Select protective shells for protection against fading, staining, mold, and scratching; and Trex Hideaway, a hidden fastening system for grooved boards.

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