Vanguard Group Inc. Acquires 96,324 Shares of Trex Company, Inc. (NYSE:TREX)

Vanguard Group Inc. boosted its holdings in shares of Trex Company, Inc. (NYSE:TREX) by 0.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,248,650 shares of the construction company’s stock after purchasing an additional 96,324 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Trex worth $848,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Trex during the 4th quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new stake in shares of Trex in the 4th quarter worth approximately $28,000. Headinvest LLC bought a new stake in shares of Trex in the 3rd quarter worth approximately $29,000. Vestor Capital LLC bought a new stake in shares of Trex in the 4th quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Trex by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 863 shares of the construction company’s stock worth $71,000 after acquiring an additional 124 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 16,440 shares of Trex stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $90.90, for a total value of $1,494,396.00. Following the completion of the sale, the senior vice president now directly owns 25,746 shares of the company’s stock, valued at approximately $2,340,311.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.71% of the company’s stock.

Trex Price Performance

TREX stock opened at $77.99 on Friday. The business has a fifty day moving average price of $87.17 and a 200 day moving average price of $87.45. Trex Company, Inc. has a fifty-two week low of $53.59 and a fifty-two week high of $101.91. The stock has a market capitalization of $8.48 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 1.85 and a beta of 1.56.

Trex (NYSE:TREX) last released its earnings results on Thursday, May 9th. The construction company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.72 by $0.10. The company had revenue of $373.64 million during the quarter, compared to analysts’ expectations of $367.31 million. Trex had a return on equity of 35.33% and a net margin of 20.60%. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. On average, equities analysts expect that Trex Company, Inc. will post 2.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TREX. JPMorgan Chase & Co. raised their price objective on Trex from $79.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, March 1st. Robert W. Baird reduced their price objective on Trex from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. UBS Group increased their target price on Trex from $84.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Barclays increased their target price on Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a report on Friday, May 10th. Finally, The Goldman Sachs Group increased their target price on Trex from $89.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $89.47.

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.