Hennion & Walsh Asset Management Inc. Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

Hennion & Walsh Asset Management Inc. lowered its stake in shares of Trex Company, Inc. (NYSE:TREX) by 4.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,490 shares of the construction company’s stock after selling 300 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Trex were worth $647,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TREX. Quadrature Capital Ltd lifted its holdings in Trex by 17.9% in the third quarter. Quadrature Capital Ltd now owns 21,966 shares of the construction company’s stock valued at $1,354,000 after acquiring an additional 3,330 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of Trex by 5.9% in the 3rd quarter. Kennedy Capital Management LLC now owns 157,168 shares of the construction company’s stock valued at $9,686,000 after purchasing an additional 8,750 shares during the period. Seven Eight Capital LP boosted its holdings in Trex by 554.0% during the third quarter. Seven Eight Capital LP now owns 21,006 shares of the construction company’s stock worth $1,295,000 after buying an additional 17,794 shares in the last quarter. Spouting Rock Asset Management LLC acquired a new stake in Trex during the third quarter valued at $294,000. Finally, Tudor Investment Corp Et Al increased its holdings in Trex by 2,017.3% in the third quarter. Tudor Investment Corp Et Al now owns 138,365 shares of the construction company’s stock valued at $8,527,000 after buying an additional 131,830 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

TREX has been the topic of several recent analyst reports. Barclays increased their target price on shares of Trex from $93.00 to $94.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Robert W. Baird lowered their price target on Trex from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Trex in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.47.

Trex Price Performance

TREX stock opened at $72.59 on Wednesday. Trex Company, Inc. has a 1 year low of $53.59 and a 1 year high of $101.91. The firm has a market capitalization of $7.89 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.63 and a beta of 1.50. The business has a 50 day simple moving average of $85.19 and a 200-day simple moving average of $87.62.

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

Insider Buying and Selling at Trex

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

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.