Trecora Resources (NYSE:TREC) Rating Lowered to Hold at ValuEngine

ValuEngine downgraded shares of Trecora Resources (NYSE:TREC) from a buy rating to a hold rating in a report published on Monday morning, ValuEngine reports.

Separately, Roth Capital restated a buy rating on shares of Trecora Resources in a research note on Tuesday, August 6th.

Shares of NYSE:TREC traded down $0.31 during trading on Monday, hitting $8.58. The company’s stock had a trading volume of 53,300 shares, compared to its average volume of 46,416. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 2.17. Trecora Resources has a fifty-two week low of $6.69 and a fifty-two week high of $10.54. The stock’s 50-day moving average price is $8.85 and its two-hundred day moving average price is $9.25. The company has a market capitalization of $221.69 million, a PE ratio of 897.00 and a beta of 1.22.

Trecora Resources (NYSE:TREC) last released its quarterly earnings results on Monday, August 5th. The basic materials company reported $0.10 EPS for the quarter. Trecora Resources had a positive return on equity of 0.16% and a negative net margin of 0.97%. The business had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $68.05 million. On average, equities analysts predict that Trecora Resources will post 0.24 earnings per share for the current fiscal year.

In other Trecora Resources news, major shareholder Athel Fahad Mohammed Saleh Al sold 18,167 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $9.01, for a total transaction of $163,684.67. Following the sale, the insider now owns 2,556,793 shares in the company, valued at $23,036,704.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 108,167 shares of company stock worth $980,285 in the last 90 days. 3.92% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in Trecora Resources by 32.7% during the second quarter. Charles Schwab Investment Management Inc. now owns 53,339 shares of the basic materials company’s stock valued at $511,000 after buying an additional 13,139 shares in the last quarter. Northern Trust Corp raised its position in shares of Trecora Resources by 3.4% during the 2nd quarter. Northern Trust Corp now owns 255,488 shares of the basic materials company’s stock worth $2,445,000 after purchasing an additional 8,470 shares during the period. Vanguard Group Inc. raised its position in shares of Trecora Resources by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 988,036 shares of the basic materials company’s stock worth $9,456,000 after purchasing an additional 24,241 shares during the period. BlackRock Inc. raised its position in shares of Trecora Resources by 7.5% during the 2nd quarter. BlackRock Inc. now owns 1,125,585 shares of the basic materials company’s stock worth $10,771,000 after purchasing an additional 78,620 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Trecora Resources by 113.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 69,780 shares of the basic materials company’s stock worth $668,000 after purchasing an additional 37,031 shares during the period. Hedge funds and other institutional investors own 47.60% of the company’s stock.

About Trecora Resources

Trecora Resources manufactures and sells various specialty petrochemical products and synthetic waxes in the United States. The company operates in two segments, Petrochemical and Specialty Waxes. The Petrochemical segment offers hydrocarbons and other petroleum based products, including isopentane, normal pentane, isohexane, and hexane for use in the production of polyethylene, packaging, polypropylene, expandable polystyrene, poly-iso/urethane foams, and crude oil from the Canadian tar sands, as well as in the catalyst support industry.

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