Cim LLC Has $586,000 Holdings in Trex Company Inc (TREX)

Cim LLC reduced its stake in Trex Company Inc (NYSE:TREX) by 51.0% during the first quarter, HoldingsChannel.com reports. The firm owned 9,526 shares of the construction company’s stock after selling 9,905 shares during the period. Cim LLC’s holdings in Trex were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TREX. First Hawaiian Bank purchased a new position in Trex in the 4th quarter worth approximately $25,000. Advisors Preferred LLC purchased a new position in Trex in the 1st quarter worth approximately $26,000. CENTRAL TRUST Co increased its stake in Trex by 189.7% in the 1st quarter. CENTRAL TRUST Co now owns 504 shares of the construction company’s stock worth $31,000 after purchasing an additional 330 shares during the period. Trust Co. of Vermont increased its stake in Trex by 83.1% in the 4th quarter. Trust Co. of Vermont now owns 606 shares of the construction company’s stock worth $36,000 after purchasing an additional 275 shares during the period. Finally, FMR LLC increased its stake in Trex by 27.9% in the 4th quarter. FMR LLC now owns 632 shares of the construction company’s stock worth $38,000 after purchasing an additional 138 shares during the period. 94.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of TREX traded down $0.38 during mid-day trading on Wednesday, hitting $60.93. 6,469 shares of the company’s stock traded hands, compared to its average volume of 923,429. Trex Company Inc has a 1 year low of $50.88 and a 1 year high of $90.74. The stock has a market capitalization of $3.55 billion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 2.53 and a beta of 1.98.

Trex (NYSE:TREX) last posted its earnings results 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). Trex had a net margin of 18.63% and a return on equity of 40.07%. The business had revenue of $179.57 million for the quarter, compared to analysts’ expectations of $176.75 million. During the same period last year, the firm posted $0.63 earnings per share. Trex’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that Trex Company Inc will post 2.39 earnings per share for the current fiscal year.

In related news, insider James E. Cline sold 13,495 shares of Trex stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $77.95, for a total transaction of $1,051,935.25. Following the sale, the insider now directly owns 82,391 shares in the company, valued at $6,422,378.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James E. Cline sold 11,980 shares of Trex 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 sale, the insider now owns 81,897 shares in the company, valued at $5,596,840.98. The disclosure for this sale can be found here. Insiders have sold 34,344 shares of company stock worth $2,514,523 over the last three months. Insiders own 0.93% of the company’s stock.

A number of equities analysts have commented on the company. SunTrust Banks decreased their price target on Trex to $63.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Zacks Investment Research cut Trex from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. B. Riley cut Trex from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $72.00 in a research note on Tuesday, April 30th. Stifel Nicolaus raised Trex from a “hold” rating to a “buy” rating and boosted their target price for the company from $70.00 to $72.00 in a research note on Thursday, March 28th. Finally, Berenberg Bank reissued a “buy” rating and set a $89.00 target price on shares of Trex in a research note on Wednesday, February 27th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Trex presently has an average rating of “Hold” and an average price target of $75.13.

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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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