Bennett Selby Investments LP Boosts Stock Position in Trex Company, Inc. (NYSE:TREX)

Bennett Selby Investments LP grew its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 16.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,953 shares of the construction company's stock after buying an additional 8,654 shares during the period. Trex accounts for 1.4% of Bennett Selby Investments LP's portfolio, making the stock its 16th biggest holding. Bennett Selby Investments LP owned 0.06% of Trex worth $3,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TREX. Xponance Inc. increased its position in shares of Trex by 0.7% during the 4th quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock valued at $1,491,000 after purchasing an additional 143 shares during the last quarter. Principal Securities Inc. boosted its holdings in Trex by 5.0% during the 4th quarter. Principal Securities Inc. now owns 3,082 shares of the construction company's stock valued at $213,000 after acquiring an additional 147 shares during the period. Harrington Investments INC boosted its holdings in Trex by 1.8% during the 4th quarter. Harrington Investments INC now owns 9,106 shares of the construction company's stock valued at $629,000 after acquiring an additional 159 shares during the period. Bessemer Group Inc. boosted its holdings in Trex by 9.1% during the 4th quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after acquiring an additional 170 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Trex by 5.5% during the 4th quarter. CIBC Asset Management Inc now owns 3,335 shares of the construction company's stock valued at $230,000 after acquiring an additional 175 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Trex Trading Up 0.1%

Shares of TREX stock opened at $56.67 on Friday. The company has a market capitalization of $6.08 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 2.51 and a beta of 1.52. The business's 50 day moving average is $56.96 and its two-hundred day moving average is $64.11. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $87.43.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 28.89% and a net margin of 20.23%. The company's revenue for the quarter was down 9.0% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. As a group, equities analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TREX shares. Barclays dropped their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Trex in a report on Tuesday, April 1st. They issued a "buy" rating and a $85.00 target price for the company. BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a report on Thursday, April 17th. Stephens lowered their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $76.65.

Insider Activity

In other news, SVP Jacob T. Rudolph sold 1,500 shares of the firm'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 transaction of $90,405.00. Following the completion of the sale, the senior vice president now owns 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their ownership of the stock. The transaction 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 Trex stock in a transaction on Monday, May 12th. The stock was 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 now directly owns 24,569 shares of the company's stock, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their position. 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.

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