Envestnet Portfolio Solutions Inc. Sells 9,042 Shares of Trex Company, Inc. (NYSE:TREX)

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Trex Company, Inc. (NYSE:TREX) by 45.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,786 shares of the construction company’s stock after selling 9,042 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Trex were worth $627,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Trex by 137.7% during the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock valued at $97,000 after buying an additional 965 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Trex during the fourth quarter valued at approximately $122,000. Bessemer Group Inc. grew its stake in shares of Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after buying an additional 170 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Trex by 11.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company’s stock valued at $157,000 after buying an additional 243 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the company’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $61.17, for a total transaction of $144,728.22. Following the completion of the sale, the senior vice president now owns 24,569 shares in the company, valued at $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total value of $90,405.00. Following the sale, the senior vice president now owns 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by company insiders.

Trex Stock Down 3.1%

Trex stock opened at $53.60 on Friday. The business has a fifty day moving average of $57.03 and a two-hundred day moving average of $62.24. The firm has a market cap of $5.75 billion, a P/E ratio of 29.45, a P/E/G ratio of 2.35 and a beta of 1.52. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $86.56.

Trex (NYSE:TREX) last posted its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. Trex’s revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. Equities analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Trex in a research note on Tuesday, April 1st. They set a “buy” rating and a $85.00 target price on the stock. Wall Street Zen cut Trex from a “hold” rating to a “sell” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. cut their target price on Trex from $79.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 5th. Stephens cut their target price on Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Finally, UBS Group lowered their price target on Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $76.65.

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.