Blueshift Asset Management LLC Makes New Investment in Trex Company, Inc. (NYSE:TREX)

Key Points

• Blueshift Asset Management LLC acquired 9,209 shares of Trex Company, Inc. valued at approximately $535,000 during the first quarter, highlighting increased institutional interest in the company.
• Analysts have mixed ratings for Trex, with a current average target price of $74.88 and various ratings ranging from "underweight" to "strong-buy."
• Trex reported earnings per share of $0.60 for the last quarter, surpassing expectations, while revenues fell 9% compared to the previous year.

Blueshift Asset Management LLC purchased a new position in Trex Company, Inc. (NYSE:TREX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,209 shares of the construction company's stock, valued at approximately $535,000.

Other hedge funds also recently modified their holdings of the company. LPL Financial LLC increased its stake in Trex by 28.4% during the 4th quarter. LPL Financial LLC now owns 127,457 shares of the construction company's stock valued at $8,798,000 after purchasing an additional 28,176 shares in the last quarter. Norges Bank purchased a new position in Trex during the 4th quarter worth $54,084,000. Pictet Asset Management Holding SA boosted its holdings in Trex by 7.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after acquiring an additional 969 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Trex by 1.0% during the 4th quarter. Schroder Investment Management Group now owns 237,343 shares of the construction company's stock worth $16,431,000 after acquiring an additional 2,432 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Trex by 14.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,757 shares of the construction company's stock worth $397,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Trex Stock Up 1.4%

Shares of Trex stock traded up $0.91 on Monday, hitting $64.33. The stock had a trading volume of 1,502,301 shares, compared to its average volume of 1,509,197. Trex Company, Inc. has a one year low of $49.01 and a one year high of $80.74. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 35.35, a PEG ratio of 2.67 and a beta of 1.51. The stock's 50-day simple moving average is $59.22 and its two-hundred day simple moving average is $60.47.

Trex (NYSE:TREX - Get Free Report) last issued its earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Trex had a net margin of 17.69% and a return on equity of 22.78%. The firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter last year, the business earned $0.82 earnings per share. The business's revenue was down 9.0% on a year-over-year basis. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stephens cut their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, May 12th. Citigroup cut their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Barclays cut their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Thursday, April 17th. Finally, Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $74.88.

Insiders Place Their Bets

In related news, SVP Amy M. Fernandez sold 2,366 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the transaction, the senior vice president directly owned 24,569 shares in the company, valued at $1,502,885.73. This trade represents a 8.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president owned 27,527 shares of the company's stock, valued at approximately $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.71% of the company's stock.

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.