Pembroke Management LTD Has $10.07 Million Holdings in Trex Company, Inc. (TREX)
Pembroke Management LTD cut its holdings in Trex Company, Inc. (NYSE:TREX) by 14.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 111,800 shares of the construction company’s stock after selling 19,600 shares during the period. Pembroke Management LTD owned 0.38% of Trex worth $10,070,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trex by 816.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,060 shares of the construction company’s stock worth $816,000 after buying an additional 8,071 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Trex by 547.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 49,200 shares of the construction company’s stock worth $4,431,000 after buying an additional 41,600 shares during the last quarter. Stephens Investment Management Group LLC increased its holdings in shares of Trex by 1.4% during the 3rd quarter. Stephens Investment Management Group LLC now owns 303,324 shares of the construction company’s stock worth $27,320,000 after buying an additional 4,151 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Trex by 11.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 310,116 shares of the construction company’s stock worth $27,932,000 after buying an additional 31,053 shares during the last quarter. Finally, 361 Capital LLC acquired a new stake in shares of Trex during the 3rd quarter worth $2,587,000. Institutional investors own 91.95% of the company’s stock.
In related news, VP Jay T. Scripter sold 1,116 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $108.59, for a total value of $121,186.44. Following the completion of the sale, the vice president now directly owns 14,212 shares in the company, valued at approximately $1,543,281.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank H. Merlotti, Jr. sold 2,158 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $105.51, for a total value of $227,690.58. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.
Shares of Trex Company, Inc. (NYSE:TREX) traded down $0.46 during midday trading on Thursday, reaching $111.55. The company had a trading volume of 113,200 shares, compared to its average volume of 237,551. Trex Company, Inc. has a 52-week low of $61.57 and a 52-week high of $113.84. The firm has a market cap of $3,295.88, a P/E ratio of 36.97 and a beta of 2.41.
Trex (NYSE:TREX) last announced its quarterly earnings results on Monday, October 30th. The construction company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.13. Trex had a return on equity of 51.30% and a net margin of 16.61%. The firm had revenue of $140.19 million during the quarter, compared to the consensus estimate of $125.30 million. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. analysts predict that Trex Company, Inc. will post 3.11 EPS for the current year.
A number of research firms have recently commented on TREX. BidaskClub downgraded Trex from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded Trex from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $75.00 price objective on shares of Trex in a report on Thursday, August 3rd. FBR & Co upped their price objective on Trex from $69.00 to $80.00 and gave the stock a “mkt perform” rating in a report on Tuesday, August 1st. Finally, Griffin Securities downgraded Trex from a “buy” rating to a “neutral” rating in a report on Tuesday, August 1st. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $90.00.
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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