Carillon Tower Advisers Inc. grew its holdings in shares of Trex Company Inc (NYSE:TREX) by 106.0% during the second quarter, HoldingsChannel.com reports. The firm owned 1,311,900 shares of the construction company’s stock after purchasing an additional 674,991 shares during the quarter. Trex accounts for approximately 0.6% of Carillon Tower Advisers Inc.’s investment portfolio, making the stock its 22nd largest holding. Carillon Tower Advisers Inc.’s holdings in Trex were worth $82,111,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of TREX. Advisory Services Network LLC lifted its stake in shares of Trex by 100.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock worth $133,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. lifted its stake in shares of Trex by 100.0% during the 2nd quarter. Whittier Trust Co. now owns 2,958 shares of the construction company’s stock worth $185,000 after purchasing an additional 1,479 shares during the period. Bank of Montreal Can purchased a new position in shares of Trex during the 2nd quarter worth $187,000. US Bancorp DE lifted its stake in shares of Trex by 100.0% during the 2nd quarter. US Bancorp DE now owns 3,084 shares of the construction company’s stock worth $193,000 after purchasing an additional 1,542 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Trex by 33.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,986 shares of the construction company’s stock worth $216,000 after purchasing an additional 501 shares during the period. 69.16% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on TREX. Sidoti lowered Trex from a “buy” rating to a “neutral” rating in a research note on Friday, August 10th. ValuEngine lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research raised Trex from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, May 10th. Finally, B. Riley increased their price target on Trex to $31.50 and gave the stock a “buy” rating in a research note on Tuesday, May 8th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $28.58.
TREX stock opened at $83.46 on Wednesday. The firm has a market cap of $4.76 billion, a PE ratio of 52.82 and a beta of 2.40. Trex Company Inc has a 52 week low of $35.96 and a 52 week high of $84.21.
Trex (NYSE:TREX) last released its quarterly earnings data on Monday, July 30th. The construction company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $206.69 million during 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 revenue for the quarter was up 30.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. research analysts predict that Trex Company Inc will post 2.26 earnings per share for the current year.
In other news, Director Frank H. Merlotti, Jr. sold 3,051 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $77.39, for a total transaction of $236,116.89. Following the completion of the sale, the director now directly owns 24,242 shares in the company, valued at approximately $1,876,088.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jay T. Scripter sold 11,812 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $78.34, for a total value of $925,352.08. Following the sale, the vice president now owns 37,696 shares of the company’s stock, valued at $2,953,104.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,185 shares of company stock valued at $1,807,589. Insiders own 1.17% 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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