Nordea Investment Management AB Has $3.94 Million Position in Trex Company Inc (NYSE:TREX)

Nordea Investment Management AB grew its holdings in Trex Company Inc (NYSE:TREX) by 0.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 64,085 shares of the construction company’s stock after acquiring an additional 230 shares during the quarter. Nordea Investment Management AB owned about 0.11% of Trex worth $3,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TREX. Marshall Wace North America L.P. purchased a new stake in Trex during the first quarter valued at about $2,079,000. Marshall Wace LLP acquired a new position in shares of Trex during the first quarter worth about $3,092,000. Westfield Capital Management Co. LP lifted its stake in shares of Trex by 11.7% during the first quarter. Westfield Capital Management Co. LP now owns 425,860 shares of the construction company’s stock worth $26,199,000 after purchasing an additional 44,480 shares in the last quarter. East Coast Asset Management LLC. acquired a new position in shares of Trex during the first quarter worth about $2,125,000. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in shares of Trex by 50.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 337,153 shares of the construction company’s stock worth $20,742,000 after purchasing an additional 113,161 shares in the last quarter. Institutional investors and hedge funds own 97.14% of the company’s stock.

A number of brokerages have commented on TREX. B. Riley restated a “buy” rating on shares of Seabridge Gold in a research note on Tuesday, April 30th. Berenberg Bank restated a “buy” rating and set a $80.00 price objective on shares of Trex in a research note on Monday, June 10th. Stifel Nicolaus set a $34.00 price target on Rhythm Pharmaceuticals and gave the stock a “hold” rating in a research note on Thursday, March 28th. DA Davidson cut their price target on Duluth from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, April 5th. Finally, SunTrust Banks boosted their price target on FTI Consulting to $88.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $74.00.

In other Trex news, insider James E. Cline sold 11,980 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $68.34, for a total transaction of $818,713.20. Following the completion of the transaction, the insider now directly owns 81,897 shares of the company’s stock, valued at approximately $5,596,840.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jay T. Scripter sold 23,762 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $69.19, for a total value of $1,644,092.78. Following the transaction, the vice president now directly owns 573 shares of the company’s stock, valued at $39,645.87. The disclosure for this sale can be found here. Insiders have sold 66,063 shares of company stock valued at $4,557,404 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

NYSE TREX traded down $0.05 on Thursday, hitting $70.82. 531,400 shares of the stock traded hands, compared to its average volume of 838,604. The company has a 50-day moving average price of $68.84. Trex Company Inc has a twelve month low of $50.88 and a twelve month high of $90.74. The stock has a market capitalization of $4.11 billion, a P/E ratio of 30.14, a P/E/G ratio of 3.00 and a beta of 2.12. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.73 and a quick ratio of 2.26.

Trex (NYSE:TREX) last announced its quarterly earnings data on Monday, April 29th. The construction company reported $0.54 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.05). The firm had revenue of $179.57 million for the quarter, compared to analyst estimates of $176.75 million. Trex had a net margin of 18.63% and a return on equity of 40.07%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS. Research analysts expect that Trex Company Inc will post 2.41 earnings per share for the current year.

About Trex

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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