Dimensional Fund Advisors LP Grows Position in Trex Company Inc (TREX)
Dimensional Fund Advisors LP increased its position in Trex Company Inc (NYSE:TREX) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,403,288 shares of the construction company’s stock after acquiring an additional 37,952 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Trex were worth $83,298,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TREX. Westfield Capital Management Co. LP acquired a new stake in shares of Trex in the 4th quarter worth approximately $22,639,000. Vanguard Group Inc grew its holdings in Trex by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 5,843,017 shares of the construction company’s stock valued at $449,795,000 after buying an additional 128,870 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in Trex during the 4th quarter valued at $7,123,000. Eaton Vance Management acquired a new stake in Trex during the 4th quarter valued at $5,641,000. Finally, Pembroke Management LTD grew its holdings in Trex by 90.2% during the 4th quarter. Pembroke Management LTD now owns 178,900 shares of the construction company’s stock valued at $10,620,000 after buying an additional 84,850 shares during the last quarter. Institutional investors and hedge funds own 94.35% of the company’s stock.
In other news, insider James E. Cline sold 13,495 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $77.95, for a total transaction of $1,051,935.25. Following the sale, the insider now owns 82,391 shares in the company, valued at $6,422,378.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James E. Cline sold 11,980 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $68.34, for a total value of $818,713.20. Following the sale, the insider now owns 81,897 shares in the company, valued at approximately $5,596,840.98. The disclosure for this sale can be found here. Insiders have sold 34,344 shares of company stock worth $2,514,523 in the last 90 days. Insiders own 0.93% of the company’s stock.
Trex (NYSE:TREX) last posted its quarterly earnings data on Monday, April 29th. The construction company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05). Trex had a return on equity of 40.07% and a net margin of 18.63%. The business had revenue of $179.57 million for the quarter, compared to analyst estimates of $176.75 million. During the same quarter last year, the business earned $0.63 EPS. Trex’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Trex Company Inc will post 2.39 earnings per share for the current year.
TREX has been the topic of a number of analyst reports. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, March 12th. Berenberg Bank reiterated a “buy” rating and set a $89.00 target price on shares of Trex in a report on Wednesday, February 27th. B. Riley reiterated a “buy” rating and set a $80.00 target price (up previously from $71.00) on shares of Trex in a report on Friday, February 15th. DA Davidson initiated coverage on Trex in a report on Friday, April 5th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Sidoti upgraded Trex from a “neutral” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Friday, March 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $75.13.
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Trex Company Profile
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.
Further Reading: Certificate of Deposit (CD)
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