BlackRock Inc. Has $439.13 Million Stock Holdings in Trex Company Inc (NYSE:TREX)

BlackRock Inc. reduced its holdings in shares of Trex Company Inc (NYSE:TREX) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,138,058 shares of the construction company’s stock after selling 1,779,509 shares during the quarter. BlackRock Inc. owned approximately 12.20% of Trex worth $439,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of TREX. Norges Bank acquired a new stake in shares of Trex in the fourth quarter worth approximately $35,599,000. Westfield Capital Management Co. LP acquired a new stake in shares of Trex in the fourth quarter worth approximately $22,639,000. Millennium Management LLC acquired a new stake in shares of Trex in the fourth quarter worth approximately $13,502,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Trex in the fourth quarter worth approximately $13,296,000. Finally, Wasatch Advisors Inc. lifted its position in Trex by 11.0% during the first quarter. Wasatch Advisors Inc. now owns 2,108,330 shares of the construction company’s stock valued at $129,704,000 after buying an additional 208,121 shares in the last quarter. Hedge funds and other institutional investors own 96.86% of the company’s stock.

TREX stock traded down $0.58 during trading on Monday, hitting $71.12. The company had a trading volume of 839,034 shares, compared to its average volume of 870,832. Trex Company Inc has a fifty-two week low of $50.88 and a fifty-two week high of $90.74. The company has a quick ratio of 2.26, a current ratio of 2.73 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.98 and a beta of 2.12. The firm has a 50 day moving average price of $65.38.

Trex (NYSE:TREX) last posted 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 company had revenue of $179.57 million for the quarter, compared to analyst estimates of $176.75 million. Trex had a return on equity of 40.07% and a net margin of 18.63%. Trex’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. As a group, equities analysts predict that Trex Company Inc will post 2.41 EPS for the current fiscal year.

In other Trex news, VP Jay T. Scripter sold 25,758 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $69.15, for a total transaction of $1,781,165.70. Following the completion of the sale, the vice president now owns 573 shares of the company’s stock, valued at $39,622.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James E. Cline sold 11,980 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $68.34, for a total value of $818,713.20. Following the completion of the sale, the insider now directly owns 81,897 shares of the company’s stock, valued at $5,596,840.98. The disclosure for this sale can be found here. Insiders sold a total of 66,063 shares of company stock worth $4,557,404 in the last quarter. 0.93% of the stock is owned by corporate insiders.

TREX has been the topic of a number of recent research reports. DA Davidson initiated coverage on shares of Trex in a research report on Friday, April 5th. They set a “buy” rating and a $80.00 price target on the stock. Sidoti upgraded shares of Trex from a “neutral” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Friday, March 29th. Zacks Investment Research lowered shares of Trex from a “buy” rating to a “hold” rating in a research note on Wednesday, March 13th. Berenberg Bank reiterated a “buy” rating and set a $80.00 price objective on shares of Trex in a research note on Monday, June 10th. Finally, Stifel Nicolaus upgraded shares of Trex from a “hold” rating to a “buy” rating and lifted their price objective for the company from $70.00 to $72.00 in a research note on Thursday, March 28th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Trex presently has a consensus rating of “Hold” and an average price target of $74.00.

Trex Company 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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