Trex Company Inc (TREX) Shares Bought by Alps Advisors Inc.
Alps Advisors Inc. raised its stake in Trex Company Inc (NYSE:TREX) by 32.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,887 shares of the construction company’s stock after acquiring an additional 1,448 shares during the quarter. Alps Advisors Inc.’s holdings in Trex were worth $638,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC increased its holdings in shares of Trex by 100.0% during the second quarter. Advisory Services Network LLC now owns 2,000 shares of the construction company’s stock worth $133,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. increased its holdings in shares of Trex by 100.0% during the second quarter. Whittier Trust Co. now owns 2,958 shares of the construction company’s stock worth $185,000 after purchasing an additional 1,479 shares during the period. Bank of Montreal Can bought a new position in shares of Trex during the second quarter worth approximately $187,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Trex by 33.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,986 shares of the construction company’s stock worth $216,000 after purchasing an additional 501 shares during the period. Finally, CIBC World Markets Inc. bought a new position in shares of Trex during the first quarter worth approximately $229,000. 52.60% of the stock is currently owned by hedge funds and other institutional investors.
In other Trex news, SVP William R. Gupp sold 5,460 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $77.75, for a total value of $424,515.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jay T. Scripter sold 11,812 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $78.34, for a total transaction of $925,352.08. Following the completion of the sale, the vice president now owns 37,696 shares in the company, valued at approximately $2,953,104.64. The disclosure for this sale can be found here. Insiders sold 23,185 shares of company stock worth $1,807,589 in the last 90 days. Company insiders own 1.17% of the company’s stock.
Trex (NYSE:TREX) last issued its earnings results on Monday, July 30th. The construction company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. Trex had a net margin of 18.48% and a return on equity of 46.45%. The firm had revenue of $206.69 million for the quarter, compared to analyst estimates of $190.80 million. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 30.9% on a year-over-year basis. analysts forecast that Trex Company Inc will post 2.26 earnings per share for the current fiscal year.
Several research firms recently issued reports on TREX. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Thursday, May 3rd. B. Riley increased their price target on shares of Trex to $31.50 and gave the stock a “buy” rating in a research report on Tuesday, May 8th. ValuEngine lowered shares of Trex from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Finally, Sidoti upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $31.75 price target on the stock in a research report on Tuesday, May 8th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $28.58.
Trex Company Profile
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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