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

Vanguard Group Inc. lessened its position in Trex Company, Inc. (NYSE:TREX) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,139,231 shares of the construction company’s stock after selling 58,243 shares during the period. Vanguard Group Inc. owned about 9.46% of Trex worth $589,089,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of 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 buying an additional 408 shares during the last quarter. GAMMA Investing LLC increased its position in 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 purchasing an additional 965 shares during the last quarter. Bessemer Group Inc. increased its position in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company’s stock worth $140,000 after purchasing an additional 170 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Trex during the first quarter worth approximately $216,000. Finally, Jefferies Financial Group Inc. acquired a new position in Trex during the first quarter worth approximately $218,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TREX. UBS Group reaffirmed a “neutral” rating and set a $74.00 price target (up previously from $72.00) on shares of Trex in a research report on Tuesday, August 5th. B. Riley raised shares of Trex to a “strong-buy” rating in a research report on Monday, July 21st. Robert W. Baird raised shares of Trex from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $65.00 to $75.00 in a research report on Thursday, July 10th. DA Davidson set a $65.00 price target on shares of Trex and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Finally, Baird R W raised shares of Trex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.93.

Trex Trading Up 7.5%

Shares of TREX stock opened at $65.73 on Thursday. The company has a market capitalization of $7.05 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 2.56 and a beta of 1.51. The firm has a fifty day simple moving average of $60.05 and a 200-day simple moving average of $60.11. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74.

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

Insider Buying and Selling at Trex

In other news, SVP Amy M. Fernandez sold 1,538 shares of the company’s stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total value of $98,708.84. Following the completion of the transaction, the senior vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.71% of the company’s stock.

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.