Wealth Enhancement Advisory Services LLC Grows Holdings in Trex Company, Inc. (NYSE:TREX)

Wealth Enhancement Advisory Services LLC lifted its holdings in Trex Company, Inc. (NYSE:TREX) by 14.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,150 shares of the construction company’s stock after buying an additional 1,379 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Trex were worth $770,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TREX. Alliancebernstein L.P. grew its position in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company’s stock worth $746,858,000 after buying an additional 3,818,025 shares during the period. Price T Rowe Associates Inc. MD grew its position in Trex by 463.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company’s stock valued at $216,400,000 after purchasing an additional 2,578,734 shares during the last quarter. AustralianSuper Pty Ltd purchased a new stake in Trex during the 4th quarter valued at about $110,414,000. Anomaly Capital Management LP grew its position in Trex by 228.2% during the 4th quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company’s stock valued at $104,427,000 after purchasing an additional 1,051,888 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Trex by 86.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company’s stock valued at $140,064,000 after purchasing an additional 939,960 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Trex

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on TREX. Benchmark reissued a “buy” rating and set a $80.00 price objective on shares of Trex in a research report on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Trex in a research report on Tuesday, April 1st. They set a “buy” rating and a $85.00 price objective on the stock. UBS Group cut their price objective on shares of Trex from $74.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. Barclays cut their price objective on shares of Trex from $67.00 to $54.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. Finally, Bank of America cut their price objective on shares of Trex from $85.00 to $79.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Trex presently has a consensus rating of “Hold” and a consensus target price of $76.65.

Trex Stock Up 0.8%

Shares of NYSE:TREX opened at $57.08 on Tuesday. The firm’s 50 day moving average price is $56.90 and its 200-day moving average price is $63.96. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $87.43. The stock has a market capitalization of $6.12 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 2.51 and a beta of 1.52.

Trex (NYSE:TREX) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 20.23% and a return on equity of 28.89%. The firm had revenue of $339.99 million for the quarter, compared to analysts’ expectations of $329.11 million. During the same quarter in the prior year, the business earned $0.82 EPS. The business’s quarterly revenue was down 9.0% on a year-over-year basis. Analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.