First Mercantile Trust Co. Reduces Holdings in Trex Company Inc (TREX)
First Mercantile Trust Co. lowered its stake in Trex Company Inc (NYSE:TREX) by 13.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,858 shares of the construction company’s stock after selling 888 shares during the period. First Mercantile Trust Co.’s holdings in Trex were worth $635,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of Trex by 352.7% in the third quarter. Bessemer Group Inc. now owns 1,435 shares of the construction company’s stock valued at $129,000 after buying an additional 1,118 shares in the last quarter. Greenwood Capital Associates LLC bought a new position in shares of Trex in the third quarter valued at $202,000. 1st Global Advisors Inc. purchased a new position in Trex during the 2nd quarter worth approximately $204,000. Everence Capital Management Inc. purchased a new position in Trex during the 3rd quarter worth approximately $212,000. Finally, Teacher Retirement System of Texas purchased a new position in Trex during the 3rd quarter worth approximately $219,000. 88.72% of the stock is currently owned by institutional investors.
Trex Company Inc (NYSE TREX) opened at $108.57 on Friday. Trex Company Inc has a 52-week low of $61.57 and a 52-week high of $120.40. The firm has a market cap of $3,322.66, a P/E ratio of 37.27 and a beta of 2.31.
In other news, Director Frank H. Merlotti, Jr. sold 2,158 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total transaction of $227,690.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay M. Gratz sold 1,058 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $116.95, for a total transaction of $123,733.10. Following the transaction, the director now owns 8,801 shares in the company, valued at $1,029,276.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,956 shares of company stock worth $767,076. 0.95% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Trex from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Thursday, January 11th. Stifel Nicolaus lowered their price objective on shares of Trex from $100.00 to $89.00 and set a “hold” rating on the stock in a research report on Friday, December 8th. SunTrust Banks reiterated a “hold” rating and set a $95.00 price objective on shares of Trex in a research report on Wednesday, November 1st. B. Riley reiterated a “neutral” rating and set a $96.00 price objective (up from $80.00) on shares of Trex in a research report on Wednesday, November 1st. Finally, FBR & Co lifted their price objective on shares of Trex from $80.00 to $96.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 31st. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $99.00.
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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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