Envestnet Asset Management Inc. Raises Stock Position in Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. grew its holdings in shares of Trex Company, Inc. (NYSE:TREX – Get Rating) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,645 shares of the construction company’s stock after purchasing an additional 62,569 shares during the period. Envestnet Asset Management Inc. owned about 0.26% of Trex worth $12,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. TD Asset Management Inc increased its stake in Trex by 403.7% during the fourth quarter. TD Asset Management Inc now owns 646,516 shares of the construction company’s stock worth $27,367,000 after purchasing an additional 518,159 shares during the period. WCM Investment Management LLC acquired a new position in shares of Trex during the fourth quarter worth about $12,506,000. Oppenheimer Asset Management Inc. grew its position in shares of Trex by 15.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 69,715 shares of the construction company’s stock worth $2,951,000 after buying an additional 9,223 shares in the last quarter. Robeco Schweiz AG acquired a new position in shares of Trex during the fourth quarter worth about $2,370,000. Finally, Hartline Investment Corp acquired a new position in shares of Trex during the fourth quarter worth about $621,000. 94.64% of the stock is currently owned by hedge funds and other institutional investors.

Trex Trading Up 8.2 %

Shares of NYSE TREX opened at $60.89 on Wednesday. Trex Company, Inc. has a twelve month low of $38.68 and a twelve month high of $67.78. The stock has a 50 day moving average of $50.79 and a two-hundred day moving average of $48.87. The stock has a market cap of $6.62 billion, a P/E ratio of 37.36, a P/E/G ratio of 7.41 and a beta of 1.49.

Trex (NYSE:TREX – Get Rating) last released its quarterly earnings results on Monday, May 8th. The construction company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.33 by $0.05. Trex had a return on equity of 32.97% and a net margin of 16.69%. The business had revenue of $239.00 million during the quarter, compared to analysts’ expectations of $237.65 million. During the same quarter in the prior year, the business earned $0.62 earnings per share. The company’s quarterly revenue was down 29.5% compared to the same quarter last year. As a group, research analysts predict that Trex Company, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TREX shares. UBS Group boosted their price objective on Trex from $56.00 to $59.00 in a research report on Tuesday. Benchmark boosted their price objective on Trex from $64.00 to $67.00 in a research report on Tuesday. Robert W. Baird boosted their price objective on Trex from $58.00 to $62.00 in a research report on Tuesday. B. Riley lowered their price target on Trex from $65.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. Finally, Barclays upped their price target on Trex from $53.00 to $57.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.00.

Trex Company Profile

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Trex Co, Inc engages in the manufacture of wood-alternative decking and railing. Its products include deck framing and drainage, outdoor lighting, furniture, pergola and outdoor kitchens, fencing, collections, and accessory hardware. It operates through the following segments Trex Residential Products and Trex Commercial Products.