Pacer Advisors Inc. Trims Holdings in Trex Company Inc (NYSE:TREX)

Pacer Advisors Inc. trimmed its position in Trex Company Inc (NYSE:TREX) by 7.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,759 shares of the construction company’s stock after selling 1,666 shares during the quarter. Pacer Advisors Inc.’s holdings in Trex were worth $1,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in Trex by 106.8% during the 2nd quarter. Marshall Wace LLP now owns 103,971 shares of the construction company’s stock valued at $7,455,000 after buying an additional 53,707 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Trex during the 2nd quarter valued at approximately $4,298,000. Retirement Systems of Alabama purchased a new stake in Trex during the 2nd quarter valued at approximately $11,224,000. Charles Schwab Investment Management Inc. grew its holdings in Trex by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 522,969 shares of the construction company’s stock valued at $37,497,000 after buying an additional 6,822 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Trex by 17.8% during the 2nd quarter. Northern Trust Corp now owns 975,044 shares of the construction company’s stock valued at $69,911,000 after buying an additional 147,430 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on the stock. SunTrust Banks increased their price objective on shares of Trex from $70.00 to $90.00 and gave the company a “hold” rating in a report on Thursday, October 3rd. They noted that the move was a valuation call. William Blair started coverage on shares of Trex in a report on Thursday, August 22nd. They set an “outperform” rating for the company. ValuEngine lowered shares of Trex from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Berenberg Bank reissued a “buy” rating and issued a $80.00 target price on shares of Trex in a report on Tuesday, July 30th. Finally, Exane BNP Paribas started coverage on shares of Trex in a report on Wednesday, October 9th. They issued an “underperform” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. Trex currently has an average rating of “Hold” and a consensus price target of $82.56.

In related news, insider James E. Cline sold 11,144 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $82.36, for a total value of $917,819.84. Following the completion of the sale, the insider now directly owns 89,408 shares in the company, valued at $7,363,642.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jay M. Gratz sold 2,817 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $86.67, for a total value of $244,149.39. Following the completion of the sale, the director now owns 16,515 shares of the company’s stock, valued at $1,431,355.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,572 shares of company stock valued at $3,305,927. 0.93% of the stock is currently owned by insiders.

TREX stock opened at $91.31 on Wednesday. The firm has a fifty day moving average price of $87.83 and a 200 day moving average price of $75.26. Trex Company Inc has a fifty-two week low of $50.88 and a fifty-two week high of $93.34. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.99 and a current ratio of 3.51. The firm has a market cap of $5.29 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 3.83 and a beta of 1.97.

Trex (NYSE:TREX) last posted its earnings results on Monday, July 29th. The construction company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. Trex had a net margin of 17.61% and a return on equity of 35.94%. The firm had revenue of $206.45 million during the quarter, compared to analyst estimates of $201.70 million. During the same period last year, the firm posted $0.73 earnings per share. Trex’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities analysts predict that Trex Company Inc will post 2.36 EPS for the current year.

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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