First Mercantile Trust Co. trimmed its stake in Trex Company Inc (NYSE:TREX) by 2.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,826 shares of the construction company’s stock after selling 165 shares during the period. First Mercantile Trust Co.’s holdings in Trex were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Clear Harbor Asset Management LLC acquired a new stake in Trex in the third quarter valued at $570,000. Texas Yale Capital Corp. acquired a new stake in Trex during the 3rd quarter worth about $224,000. Oppenheimer Asset Management Inc. grew its holdings in Trex by 2.6% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 16,108 shares of the construction company’s stock worth $1,465,000 after acquiring an additional 402 shares during the period. Comerica Bank grew its holdings in Trex by 44.5% during the 3rd quarter. Comerica Bank now owns 105,625 shares of the construction company’s stock worth $9,721,000 after acquiring an additional 32,524 shares during the period. Finally, Svenska Handelsbanken AB publ acquired a new stake in Trex during the 3rd quarter worth about $1,382,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Shares of TREX traded up $0.31 during trading hours on Friday, hitting $88.22. The stock had a trading volume of 57,310 shares, compared to its average volume of 613,776. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.52 and a quick ratio of 3.02. The firm has a 50 day simple moving average of $89.26 and a 200-day simple moving average of $77.52. The firm has a market capitalization of $5.12 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 3.64 and a beta of 1.92. Trex Company Inc has a 1-year low of $53.48 and a 1-year high of $93.63.

Trex (NYSE:TREX) last issued its earnings results on Monday, October 28th. The construction company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $195.00 million during the quarter, compared to the consensus estimate of $208.12 million. Trex had a return on equity of 35.80% and a net margin of 18.65%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Equities analysts predict that Trex Company Inc will post 2.41 EPS for the current fiscal year.

In related news, Director Jay M. Gratz sold 2,817 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $86.67, for a total value of $244,149.39. Following the transaction, the director now owns 16,515 shares of the company’s stock, valued at approximately $1,431,355.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jay M. Gratz sold 2,792 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $83.46, for a total transaction of $233,020.32. Following the completion of the transaction, the director now directly owns 15,651 shares in the company, valued at approximately $1,306,232.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,388 shares of company stock valued at $1,802,560. 0.93% of the stock is currently owned by company insiders.

TREX has been the subject of a number of recent analyst reports. BNP Paribas initiated coverage on Trex in a report on Wednesday, October 9th. They set an “underperform” rating for the company. William Blair initiated coverage on Trex in a report on Thursday, August 22nd. They set an “outperform” rating for the company. ValuEngine downgraded Trex from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Trex from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Friday, October 11th. Finally, Stephens set a $90.00 price target on Trex and gave the stock a “hold” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $85.56.

Trex 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: Book Value Of Equity Per Share – BVPS Explained

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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