Envestnet Asset Management Inc. Acquires 42,578 Shares of Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. increased its stake in shares of Trex Company, Inc. (NYSE:TREX) by 13.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 369,825 shares of the construction company’s stock after acquiring an additional 42,578 shares during the quarter. Envestnet Asset Management Inc. owned about 0.34% of Trex worth $21,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TREX. Huntington National Bank boosted its stake in Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company’s stock worth $39,000 after buying an additional 393 shares in the last quarter. Blue Trust Inc. increased its position in Trex by 55.9% in the 1st 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. GAMMA Investing LLC lifted its position in Trex by 137.7% during the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company’s stock valued at $97,000 after purchasing an additional 965 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in Trex during the 4th quarter valued at about $122,000. Finally, Bessemer Group Inc. increased its stake in shares of Trex by 9.1% in the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock valued at $140,000 after acquiring an additional 170 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Trex Trading Up 0.6%

Shares of TREX stock opened at $61.23 on Thursday. The business’s 50-day moving average price is $57.62 and its 200-day moving average price is $60.86. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $86.56. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.58 and a beta of 1.50.

Trex (NYSE:TREX) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $339.99 million for 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%. The firm’s quarterly revenue was down 9.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on TREX. UBS Group lowered their price target on Trex from $74.00 to $72.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Robert W. Baird raised 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 research note on Thursday, July 10th. Citigroup lowered their target price on Trex from $78.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays lowered their target price on Trex from $67.00 to $54.00 and set an “underweight” rating for the company in a research note on Tuesday, April 8th. Finally, Benchmark reissued a “buy” rating and set a $80.00 target price on shares of Trex in a research note on Monday, May 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $74.88.

Insider Activity at Trex

In other Trex 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 transaction, the senior vice president directly owned 24,569 shares of the company’s stock, valued at approximately $1,502,885.73. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business’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 value of $90,405.00. Following the sale, the senior vice president owned 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 currently owned by insiders.

Trex 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.