On Tuesday, Shares of Trex Company Inc (NYSE:TREX), added 11.11% and closed at $58.29 in the last trading session. The last trading range of the stock ranges between $55.00 and $59.17. Trex Company, Inc. (TREX), the world’s number-one brand of decking and railing and leader in high-performance, low-maintenance outdoor living products, recently stated financial results for the third quarter ended September 30, 2016.
Third Quarter 2016 Results
Net sales for the third quarter of 2016 were $106.2 million, 13% above the $94 million stated last year. Net income for the third quarter 2016 was $6.9 million, or $0.23 per diluted share, up 84% and 92%, respectively. Apart From a non-cash warranty reserve charge related to legacy products of $9.8 million, earnings were $0.45 per diluted share up 96% from the adjusted 2015 third quarter, which excludes a $5.4 million reserve charge related to legacy products. Gross margin was 28.2%, 460 basis points ahead of the prior year; adjusted for legacy warranty reserve charge gross margin was 37.5%, an 820 basis point expansion.
Total SA (ADR)(NYSE:TOT), jumped 0.23% and closed at $47.52 in the last trading session. The last trading range of the stock ranges between $47.20 and $47.80. The company’s Market capitalization is $123.04 Billion with the total Outstanding Shares of 2.39 Billion. TOTAL S.A. operates as an integrated oil and gas company worldwide. The company operates through three segments: Upstream, Refining & Chemicals, and Marketing & Services. The Upstream segment engages in the exploration and production activities in about 50 countries, and produces oil or gas in about 30 countries; gas activities, counting purchase, sale, and shipping of liquefied natural gas (LNG); and trading of liquefied petroleum gas (LPG) and pet coke. This segment is also involved in the storage and transportation of natural gas; and generation and trading of power. The Refining & Chemicals segment provides petrochemicals, counting olefins and aromatics; polymer derivatives, such as polyethylene, polypropylene, polystyrene, and hydrocarbon resins; and specialty chemicals comprising elastomer processing and electroplating chemistry for automotive, construction, electronics, aerospace, and convenience goods markets. It is also involved in trading and shipping crude oil and petroleum products. The Marketing & Services segment supplies and markets petroleum products, counting aviation fuel, special fluids, LPG, bitumen, heavy fuels, and marine bunkers. It operates about 16,000 service stations.
On the otherhand CIT Group Inc. (NYSE:CIT), lost -0.03% and closed at $36.29 in the last trading session. The last trading range of the stock ranges between $35.73 and $36.63. During the 52-week trading session the minimum price at which share price traded, registered at $25.18 and reached to max level of $43.57. CIT Group Inc. (CIT), cit.com, a leading provider of commercial lending and leasing services, recently declared the appointment of Marisa J. Harney as Executive Vice President, Chief Credit Officer, effective right away. Harney will report directly to Executive Vice President and Chief Risk Officer Robert Rowe.
“We are happy to have Marisa join CIT and our senior administration team,” said Rowe. “Marisa is a highly regarded credit professional with several decades of experience. She brings to our organization a wealth of knowledge and strong credit skills in the products and industries in which CIT continues to focus as we execute our planned programs.”
Harney’s primary responsibilities will include setting credit policy and overseeing the transaction approval process across CIT’s three operating segments, in addition to overseeing the Company’s special assets function. She will also ensure the regular review, adherence to, and effective communication of credit policy and procedures across the organization.