Trex Company, Inc. (NYSE:TREX) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in Trex Company, Inc. (NYSE:TREX) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,139,231 shares of the construction company’s stock after selling 58,243 shares during the period. Vanguard Group Inc. owned 0.09% of Trex worth $589,089,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Trex by 137.7% in the first quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock valued at $97,000 after acquiring an additional 965 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Trex in the first quarter valued at $911,000. State of Alaska Department of Revenue raised its holdings in Trex by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company’s stock valued at $728,000 after acquiring an additional 330 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Trex by 26.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company’s stock valued at $4,125,000 after acquiring an additional 14,670 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Trex by 55.9% in the first quarter. Blue Trust Inc. now owns 1,138 shares of the construction company’s stock valued at $66,000 after acquiring an additional 408 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TREX. JPMorgan Chase & Co. cut their price target on shares of Trex from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Stephens dropped their target price on shares of Trex from $73.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Robert W. Baird raised shares of Trex from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. B. Riley raised shares of Trex to a “strong-buy” rating in a report on Monday, July 21st. Finally, Loop Capital reissued a “hold” rating and set a $66.00 target price on shares of Trex in a report on Tuesday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.93.

Trex Stock Performance

Trex stock opened at $65.73 on Thursday. The company has a 50-day simple moving average of $60.05 and a 200-day simple moving average of $60.11. The firm has a market capitalization of $7.05 billion, a P/E ratio of 37.99, a P/E/G ratio of 2.56 and a beta of 1.51. Trex Company, Inc. has a one year low of $49.01 and a one year high of $80.74.

Trex (NYSE:TREX) last released its quarterly earnings results on Monday, August 4th. The construction company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The business had revenue of $387.80 million during the quarter, compared to analyst estimates of $377.49 million. Trex had a net margin of 16.53% and a return on equity of 21.27%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. As a group, sell-side analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 1,538 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the completion of the transaction, the senior vice president owned 22,953 shares in the company, valued at approximately $1,473,123.54. This represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.71% of the company’s stock.

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.