Trex Company, Inc. (NYSE:TREX) Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in shares of Trex Company, Inc. (NYSE:TREX) by 12.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,803 shares of the construction company’s stock after selling 1,347 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Trex were worth $570,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Trex by 494.7% in the first quarter. SG Americas Securities LLC now owns 36,495 shares of the construction company’s stock valued at $2,120,000 after buying an additional 30,358 shares during the period. GAMMA Investing LLC grew its position 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 worth $97,000 after buying an additional 965 shares in the last quarter. Bennett Selby Investments LP grew its position in shares of Trex by 16.5% during the first quarter. Bennett Selby Investments LP now owns 60,953 shares of the construction company’s stock worth $3,541,000 after buying an additional 8,654 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Trex by 12.3% in the first quarter. Park Avenue Securities LLC now owns 8,361 shares of the construction company’s stock worth $486,000 after purchasing an additional 917 shares during the period. Finally, NBC Securities Inc. boosted its holdings in Trex by 122,070.0% in the first quarter. NBC Securities Inc. now owns 12,217 shares of the construction company’s stock worth $709,000 after purchasing an additional 12,207 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trex

In related news, SVP Amy M. Fernandez sold 2,366 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the sale, the senior vice president directly owned 24,569 shares in the company, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 27,527 shares of the company’s stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TREX has been the subject of a number of research reports. Barclays decreased their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a report on Tuesday, April 8th. Stephens reduced their price target on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. Benchmark reissued a “buy” rating and set a $80.00 price target on shares of Trex in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research note on Tuesday, April 1st. They set a “buy” rating and a $85.00 price objective on the stock. Finally, Citigroup dropped their price target on shares of Trex from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $76.65.

Trex Price Performance

NYSE:TREX opened at $58.94 on Friday. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $86.56. The stock’s 50-day moving average is $57.15 and its two-hundred day moving average is $61.40. The stock has a market cap of $6.32 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.49 and a beta of 1.50.

Trex (NYSE:TREX) last announced its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $339.99 million during the quarter, compared to analysts’ expectations of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. On average, equities research analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current year.

About Trex

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.