Flinton Capital Management LLC trimmed its holdings in Trex Company Inc (NYSE:TREX) by 36.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,920 shares of the construction company’s stock after selling 5,568 shares during the quarter. Flinton Capital Management LLC’s holdings in Trex were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. lifted its holdings in Trex by 5.7% in the 4th quarter. BlackRock Inc. now owns 3,974,637 shares of the construction company’s stock valued at $430,812,000 after acquiring an additional 215,522 shares during the last quarter. Bamco Inc. NY lifted its holdings in Trex by 4.4% in the 3rd quarter. Bamco Inc. NY now owns 1,185,205 shares of the construction company’s stock valued at $106,751,000 after acquiring an additional 49,870 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Trex by 4.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 975,160 shares of the construction company’s stock valued at $85,258,000 after acquiring an additional 42,214 shares during the last quarter. Conestoga Capital Advisors LLC lifted its holdings in Trex by 13.2% in the 4th quarter. Conestoga Capital Advisors LLC now owns 670,834 shares of the construction company’s stock valued at $72,712,000 after acquiring an additional 78,200 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in Trex in the 4th quarter valued at about $69,035,000. 90.99% of the stock is owned by institutional investors.
A number of brokerages have weighed in on TREX. Zacks Investment Research raised shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Thursday, January 11th. Stifel Nicolaus restated a “hold” rating and set a $110.00 price objective (up previously from $100.00) on shares of Trex in a report on Thursday, February 22nd. Finally, B. Riley boosted their price objective on Trex from $125.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $102.00.
Shares of Trex Company Inc (NYSE:TREX) opened at $107.15 on Friday. The stock has a market capitalization of $3,121.78, a PE ratio of 33.28 and a beta of 2.30. Trex Company Inc has a twelve month low of $61.57 and a twelve month high of $120.40.
Trex (NYSE:TREX) last posted its quarterly earnings data on Wednesday, February 21st. The construction company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The firm had revenue of $122.21 million for the quarter, compared to the consensus estimate of $118.48 million. Trex had a return on equity of 46.94% and a net margin of 16.83%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. equities research analysts forecast that Trex Company Inc will post 4.2 earnings per share for the current year.
Trex declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 21st that allows the company to repurchase 2,900,000 outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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Trex Company, Inc is a manufacturer of wood-alternative decking and railing products. The Company’s products are marketed under the brand name Trex and are manufactured in the United States. It offers a set of outdoor living products in the decking, railing, porch, fencing, trim, steel deck framing and outdoor lighting categories.
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