Summit Trail Advisors LLC Grows Position in Trex Company Inc (TREX)
Summit Trail Advisors LLC lifted its holdings in Trex Company Inc (NYSE:TREX) by 9,328.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,576 shares of the construction company’s stock after purchasing an additional 349,826 shares during the quarter. Summit Trail Advisors LLC owned 1.20% of Trex worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Trex by 4.5% in the first quarter. BlackRock Inc. now owns 4,152,269 shares of the construction company’s stock worth $451,644,000 after buying an additional 177,632 shares in the last quarter. Eagle Asset Management Inc. grew its stake in shares of Trex by 0.8% during the first quarter. Eagle Asset Management Inc. now owns 975,763 shares of the construction company’s stock valued at $106,133,000 after buying an additional 7,966 shares during the last quarter. Wasatch Advisors Inc. grew its stake in shares of Trex by 0.4% during the first quarter. Wasatch Advisors Inc. now owns 849,471 shares of the construction company’s stock valued at $92,397,000 after buying an additional 3,567 shares during the last quarter. Carillon Tower Advisers Inc. bought a new position in Trex in the fourth quarter worth approximately $69,035,000. Finally, Teachers Advisors LLC grew its stake in Trex by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 261,756 shares of the construction company’s stock worth $28,372,000 after purchasing an additional 4,029 shares in the last quarter. Hedge funds and other institutional investors own 89.03% of the company’s stock.
In other Trex news, Director Patricia B. Robinson sold 3,237 shares of the firm’s stock in a transaction on Friday, April 6th. The shares were sold at an average price of $112.14, for a total transaction of $362,997.18. Following the completion of the transaction, the director now directly owns 14,901 shares of the company’s stock, valued at approximately $1,670,998.14. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP William R. Gupp sold 3,919 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $113.75, for a total transaction of $445,786.25. Following the transaction, the senior vice president now directly owns 40,056 shares of the company’s stock, valued at $4,556,370. The disclosure for this sale can be found here. Insiders sold 29,130 shares of company stock worth $3,303,841 over the last quarter. Company insiders own 0.95% of the company’s stock.
Trex (NYSE:TREX) last posted its quarterly earnings results on Monday, May 7th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $171.20 million during the quarter, compared to analysts’ expectations of $172.18 million. Trex had a net margin of 17.63% and a return on equity of 45.74%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. sell-side analysts forecast that Trex Company Inc will post 2.14 EPS for the current year.
Several analysts have issued reports on TREX shares. Sidoti raised Trex from a “neutral” rating to a “buy” rating and set a $31.75 target price on the stock in a research report on Tuesday, May 8th. ValuEngine lowered Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday, May 10th. Finally, B. Riley lifted their price objective on Trex to $31.50 and gave the company a “buy” rating in a research note on Tuesday, May 8th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $28.58.
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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