2,470 Shares in Trex Company, Inc. (NYSE:TREX) Purchased by Wambolt & Associates LLC

Wambolt & Associates LLC purchased a new position in shares of Trex Company, Inc. (NYSE:TREX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,470 shares of the construction company’s stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TREX. Artisan Partners Limited Partnership grew its position in shares of Trex by 192.9% in the second quarter. Artisan Partners Limited Partnership now owns 1,289,289 shares of the construction company’s stock valued at $131,778,000 after purchasing an additional 849,073 shares during the last quarter. Alliancebernstein L.P. raised its stake in Trex by 14.7% during the second quarter. Alliancebernstein L.P. now owns 6,220,191 shares of the construction company’s stock worth $635,766,000 after purchasing an additional 799,475 shares during the period. Blair William & Co. IL raised its stake in shares of Trex by 30.2% in the 2nd quarter. Blair William & Co. IL now owns 1,240,887 shares of the construction company’s stock valued at $126,831,000 after acquiring an additional 287,484 shares during the period. Principal Financial Group Inc. raised its stake in shares of Trex by 67.9% in the 1st quarter. Principal Financial Group Inc. now owns 588,104 shares of the construction company’s stock valued at $53,835,000 after acquiring an additional 237,923 shares during the period. Finally, Rathbone Brothers plc grew its holdings in Trex by 477.6% during the 1st quarter. Rathbone Brothers plc now owns 229,229 shares of the construction company’s stock valued at $20,984,000 after purchasing an additional 189,542 shares in the last quarter. 92.93% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Adam Dante Zambanini sold 7,239 shares of the business’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $104.77, for a total transaction of $758,430.03. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Patricia B. Robinson sold 7,452 shares of the business’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $105.49, for a total transaction of $786,111.48. Following the transaction, the director now directly owns 60,995 shares in the company, valued at $6,434,362.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,123 shares of company stock worth $3,353,827. 0.69% of the stock is currently owned by insiders.

Several research analysts have weighed in on the stock. DA Davidson decreased their price objective on shares of Trex from $108.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, August 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Trex from a “hold” rating to a “sell” rating in a report on Thursday, October 7th. Robert W. Baird downgraded shares of Trex from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $116.00 to $108.00 in a research report on Tuesday. Finally, B. Riley lifted their price objective on shares of Trex from $103.00 to $108.00 and gave the company a “neutral” rating in a research report on Tuesday, August 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $102.47.

NYSE TREX opened at $91.29 on Thursday. The company’s 50 day simple moving average is $106.87 and its 200 day simple moving average is $102.36. Trex Company, Inc. has a 12 month low of $64.26 and a 12 month high of $114.61. The company has a market capitalization of $10.53 billion, a P/E ratio of 54.02 and a beta of 1.51.

Trex (NYSE:TREX) last released its earnings results on Sunday, August 1st. The construction company reported $0.53 EPS for the quarter, hitting analysts’ consensus estimates of $0.53. The business had revenue of $311.60 million for the quarter, compared to the consensus estimate of $302.57 million. Trex had a net margin of 19.27% and a return on equity of 33.86%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 EPS. As a group, analysts forecast that Trex Company, Inc. will post 2.05 EPS for the current year.

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.

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Institutional Ownership by Quarter for Trex (NYSE:TREX)

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