Westfield Capital Management Co. LP Raises Position in Trex Company Inc (NYSE:TREX)
Westfield Capital Management Co. LP grew its stake in Trex Company Inc (NYSE:TREX) by 12.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,104 shares of the construction company’s stock after purchasing an additional 51,244 shares during the period. Westfield Capital Management Co. LP owned approximately 0.82% of Trex worth $34,208,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of TREX. Northern Trust Corp boosted 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 acquiring an additional 147,430 shares during the period. Pacer Advisors Inc. purchased a new stake in shares of Trex during the 2nd quarter worth $1,680,000. Polen Capital Management LLC boosted its position in Trex by 8.2% during the second quarter. Polen Capital Management LLC now owns 16,164 shares of the construction company’s stock valued at $1,159,000 after purchasing an additional 1,227 shares in the last quarter. LPL Financial LLC boosted its position in Trex by 8.0% during the second quarter. LPL Financial LLC now owns 7,133 shares of the construction company’s stock valued at $511,000 after purchasing an additional 528 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Trex by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 522,969 shares of the construction company’s stock valued at $37,497,000 after purchasing an additional 6,822 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on TREX. William Blair initiated coverage on shares of Trex in a report on Thursday, August 22nd. They issued an “outperform” rating for the company. Berenberg Bank reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research report on Tuesday, July 30th. Zacks Investment Research downgraded shares of Trex from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. DA Davidson set a $96.00 target price on shares of Trex and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, SunTrust Banks lifted their price target on shares of Trex to $70.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $78.78.
Shares of NYSE:TREX traded up $0.84 during trading on Wednesday, reaching $88.45. 321,609 shares of the company’s stock traded hands, compared to its average volume of 529,534. The company has a quick ratio of 2.99, a current ratio of 3.51 and a debt-to-equity ratio of 0.09. 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 50-day simple moving average of $81.78 and a 200-day simple moving average of $72.17. The firm has a market cap of $5.22 billion, a PE ratio of 37.64, a P/E/G ratio of 3.78 and a beta of 1.99.
Trex (NYSE:TREX) last released its quarterly earnings results on Monday, July 29th. The construction company reported $0.64 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.64. Trex had a return on equity of 35.94% and a net margin of 17.61%. The company had revenue of $206.45 million during the quarter, compared to analysts’ expectations of $201.70 million. During the same quarter in the prior year, the firm posted $0.73 EPS. Trex’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts forecast 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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