Amundi Sells 111,405 Shares of Trex Company, Inc. $TREX

Key Points

• Amundi reduced its Trex stake by 15.5%, selling 111,405 shares during the second quarter and retaining 607,749 shares valued at approximately $30.4 million.
• Institutional investors hold 95.96% of Trex’s outstanding stock, with several major investors—including BlackRock and Manufacturers Life—initiating or expanding positions.
• Trex reported quarterly EPS of $0.62, slightly below the $0.63 consensus, while revenue rose 7.8% year over year to $418.02 million. Analysts have a consensus “Hold” rating and a target price of $49.30.

Amundi lowered its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 15.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 607,749 shares of the construction company's stock after selling 111,405 shares during the quarter. Amundi owned 0.58% of Trex worth $30,410,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. California State Teachers Retirement System boosted its holdings in shares of Trex by 26.6% in the 1st quarter. California State Teachers Retirement System now owns 129,321 shares of the construction company's stock worth $4,710,000 after buying an additional 27,189 shares during the last quarter. BlackRock Inc. purchased a new stake in Trex during the second quarter worth about $525,081,000. Wesbanco Bank Inc. bought a new stake in Trex in the first quarter worth about $932,000. Havemeyer Place LP purchased a new position in Trex in the fourth quarter valued at about $1,417,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Trex in the second quarter valued at about $31,997,000. 95.96% of the stock is currently owned by institutional investors.

Trex Stock Up 2.9%

Trex stock opened at $44.92 on Friday. The company has a market capitalization of $4.67 billion, a PE ratio of 26.74, a P/E/G ratio of 3.01 and a beta of 1.47. The firm has a fifty day simple moving average of $45.95 and a two-hundred day simple moving average of $42.62. Trex Company, Inc. has a twelve month low of $29.77 and a twelve month high of $61.97.

Trex (NYSE:TREX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The construction company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.63 by ($0.01). The business had revenue of $418.02 million for the quarter, compared to analysts' expectations of $415.71 million. Trex had a net margin of 14.68% and a return on equity of 18.03%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, equities analysts expect that Trex Company, Inc. will post 1.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TREX. Stifel Nicolaus set a $49.00 price target on Trex and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Citigroup reaffirmed a "neutral" rating and issued a $52.00 price objective (up from $43.00) on shares of Trex in a report on Wednesday, July 15th. The Goldman Sachs Group reissued a "buy" rating and set a $56.00 target price (up from $49.00) on shares of Trex in a report on Friday, July 10th. Barclays restated an "underweight" rating and set a $42.00 target price (up from $36.00) on shares of Trex in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $51.00 price target (up from $41.00) on shares of Trex in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Trex has a consensus rating of "Hold" and a consensus target price of $49.30.

Insider Activity at Trex

In other Trex news, SVP Jacob Rudolph sold 1,400 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $50.00, for a total transaction of $70,000.00. Following the sale, the senior vice president directly owned 36,631 shares in the company, valued at approximately $1,831,550. This trade represents a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Amy M. Fernandez sold 1,050 shares of the company's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $50.07, for a total value of $52,573.50. Following the sale, the senior vice president owned 67,794 shares of the company's stock, valued at approximately $3,394,445.58. This trade represents a 1.53% decrease in their position. The SEC filing for this sale provides additional information. 0.93% of the stock is currently owned by company insiders.

Trex Company Profile

Trex Company, Inc designs, manufactures and markets wood-alternative composite decking and outdoor living products. Its product portfolio includes decking boards, railing systems, outdoor lighting, deck drainage and related accessories sold under the Trex brand. The company's composite products are made primarily from recycled materials and are positioned as lower-maintenance alternatives to traditional wood decking.

Trex serves residential and commercial customers through a network of dealers, distributors, retailers, contractors and building professionals.

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