AustralianSuper Pty Ltd Trims Stock Position in Trex Company, Inc. (NYSE:TREX)

AustralianSuper Pty Ltd trimmed its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 22.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,239,330 shares of the construction company's stock after selling 360,178 shares during the period. AustralianSuper Pty Ltd owned approximately 1.16% of Trex worth $72,005,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in shares of Trex by 54.5% in the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock valued at $746,858,000 after purchasing an additional 3,818,025 shares in the last quarter. Wasatch Advisors LP boosted its stake in shares of Trex by 12.8% in the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock worth $317,505,000 after buying an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Trex by 463.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock worth $216,400,000 after purchasing an additional 2,578,734 shares during the period. Bamco Inc. NY boosted its holdings in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after acquiring an additional 126,441 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in shares of Trex by 86.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after buying an additional 939,960 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Trex Trading Down 0.5%

NYSE:TREX traded down $0.31 during trading hours on Friday, hitting $61.84. 1,055,137 shares of the stock traded hands, compared to its average volume of 1,463,064. The firm has a 50 day moving average price of $57.78 and a 200 day moving average price of $60.70. Trex Company, Inc. has a fifty-two week low of $49.01 and a fifty-two week high of $86.56. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.62 and a beta of 1.50.

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

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research analysts have issued reports on TREX shares. Barclays reduced their price objective on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 price objective for the company. Stephens dropped their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Benchmark reissued a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Finally, Loop Capital lifted their price objective on Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a research note on Thursday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $74.88.

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.