Envestnet Asset Management Inc. Has $22.59 Million Holdings in Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. boosted its stake in Trex Company, Inc. (NYSE:TREX) by 8.5% in the fourth quarter, HoldingsChannel reports. The firm owned 327,247 shares of the construction company’s stock after acquiring an additional 25,540 shares during the period. Envestnet Asset Management Inc.’s holdings in Trex were worth $22,590,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new stake in Trex in the third quarter valued at approximately $30,000. Mather Group LLC. increased its position in shares of Trex by 73.5% in the 4th quarter. Mather Group LLC. now owns 451 shares of the construction company’s stock valued at $31,000 after buying an additional 191 shares in the last quarter. Avior Wealth Management LLC raised its stake in Trex by 1,212.8% during the 4th quarter. Avior Wealth Management LLC now owns 512 shares of the construction company’s stock worth $35,000 after buying an additional 473 shares during the period. Huntington National Bank lifted its holdings in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after acquiring an additional 393 shares in the last quarter. Finally, Eagle Bay Advisors LLC acquired a new position in Trex in the fourth quarter valued at about $41,000. Institutional investors own 95.96% of the company’s stock.

Trex Price Performance

Trex stock opened at $54.96 on Monday. The company’s 50-day moving average is $60.36 and its 200-day moving average is $66.94. The firm has a market capitalization of $5.89 billion, a PE ratio of 25.10, a P/E/G ratio of 2.51 and a beta of 1.62. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $94.00.

Trex (NYSE:TREX) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The firm had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $160.54 million. Trex had a net margin of 20.23% and a return on equity of 28.89%. As a group, analysts expect that Trex Company, Inc. will post 2.04 EPS for the current year.

Insiders Place Their Bets

In other news, Director Melkeya Mcduffie sold 1,420 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $61.88, for a total value of $87,869.60. Following the transaction, the director now owns 1,705 shares of the company’s stock, valued at approximately $105,505.40. This represents a 45.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

TREX has been the subject of a number of research reports. StockNews.com cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. UBS Group dropped their price objective on shares of Trex from $76.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Trex in a research note on Tuesday, April 1st. They issued a “buy” rating and a $85.00 target price for the company. Barclays dropped their price target on Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Finally, Bank of America reduced their price objective on Trex from $85.00 to $79.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.18.

Trex Company Profile

Trex Company, Inc manufactures and distributes composite decking, railing, and outdoor living products and accessories for residential and commercial markets in the United States. It offers decking products and accessories under the names Trex Transcend, Trex Select, Trex Signature, Trex Transcend Lineage, and Trex Enhance for protection against fading, staining, mold, and scratching; Trex Hideaway, a hidden fastening system; and Trex DeckLighting, a LED dimmable deck lighting for use on posts, floors, and steps.