Panagora Asset Management Inc. Lowers Holdings in Trex Company Inc (NYSE:TREX)

Panagora Asset Management Inc. decreased its position in Trex Company Inc (NYSE:TREX) by 94.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,480 shares of the construction company’s stock after selling 82,393 shares during the period. Panagora Asset Management Inc.’s holdings in Trex were worth $321,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TREX. William Blair Investment Management LLC boosted its holdings in shares of Trex by 69.1% in the first quarter. William Blair Investment Management LLC now owns 2,864,456 shares of the construction company’s stock valued at $176,221,000 after purchasing an additional 1,170,545 shares during the period. State of New Jersey Common Pension Fund D purchased a new stake in shares of Trex in the second quarter valued at approximately $25,812,000. SG Capital Management LLC purchased a new stake in shares of Trex in the second quarter valued at approximately $21,195,000. Handelsbanken Fonder AB boosted its holdings in shares of Trex by 151.3% in the second quarter. Handelsbanken Fonder AB now owns 490,000 shares of the construction company’s stock valued at $35,133,000 after purchasing an additional 295,000 shares during the period. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Trex by 11.0% in the first quarter. Wasatch Advisors Inc. now owns 2,108,330 shares of the construction company’s stock valued at $129,704,000 after purchasing an additional 208,121 shares during the period. Hedge funds and other institutional investors own 96.86% of the company’s stock.

TREX has been the subject of a number of research reports. Stephens set a $90.00 price target on Trex and gave the company a “hold” rating in a report on Wednesday, July 31st. Sidoti downgraded shares of Trex from a “buy” rating to a “neutral” rating and set a $84.00 price objective for the company. in a research note on Tuesday, August 6th. They noted that the move was a valuation call. DA Davidson set a $96.00 price objective on shares of Trex and gave the stock a “buy” rating in a research note on Thursday, August 29th. SunTrust Banks boosted their price objective on shares of Trex to $70.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Berenberg Bank reissued a “buy” rating and issued a $80.00 price objective on shares of Trex in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Trex presently has a consensus rating of “Hold” and an average price target of $78.78.



NYSE:TREX traded up $0.59 during trading hours on Friday, reaching $89.60. The company’s stock had a trading volume of 6,300 shares, compared to its average volume of 531,801. The company has a market capitalization of $5.12 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 3.71 and a beta of 1.99. Trex Company Inc has a 12 month low of $50.88 and a 12 month high of $90.12. 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 stock has a 50 day moving average price of $82.15 and a two-hundred day moving average price of $72.23.

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

In other news, VP Jay T. Scripter sold 25,758 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 573 shares of the company’s stock, valued at $39,622.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William R. Gupp sold 4,563 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $82.04, for a total value of $374,348.52. Following the transaction, the senior vice president now directly owns 59,382 shares in the company, valued at $4,871,699.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,330 shares of company stock worth $5,087,092. Insiders own 0.93% of the company’s stock.

About Trex

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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