Blair William & Co. IL Acquires 48,024 Shares of Trex Company, Inc. (NYSE:TREX)

Key Points

• Blair William & Co. IL increased its holdings in Trex Company, Inc. by 7.6%, acquiring an additional 48,024 shares, bringing its total to 680,716 shares worth approximately $39.55 million.
• Wall Street analysts issued mixed ratings for Trex, with an average target price of $74.88 and a consensus rating of "Moderate Buy".
• Trex reported earnings per share (EPS) of $0.60, surpassing expectations, but noted a 9.0% year-over-year revenue decline.

Blair William & Co. IL raised its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 680,716 shares of the construction company's stock after acquiring an additional 48,024 shares during the quarter. Blair William & Co. IL owned approximately 0.63% of Trex worth $39,550,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Trex by 9.1% in the fourth 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. State of Michigan Retirement System increased its position in shares of Trex by 0.8% during the first quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock valued at $1,489,000 after buying an additional 200 shares during the period. Stephens Inc. AR increased its position in shares of Trex by 3.7% during the first quarter. Stephens Inc. AR now owns 6,530 shares of the construction company's stock valued at $379,000 after buying an additional 236 shares during the period. Quadrant Capital Group LLC increased its position in shares of Trex by 11.9% during the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company's stock valued at $157,000 after buying an additional 243 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of Trex by 5.8% during the fourth quarter. ProShare Advisors LLC now owns 5,013 shares of the construction company's stock valued at $346,000 after buying an additional 274 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TREX. Barclays reduced their price target 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. B. Riley upgraded shares of Trex to a "strong-buy" rating in a research report on Monday, July 21st. Citigroup reduced their price target on shares of Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Benchmark reiterated a "buy" rating and set a $80.00 price target on shares of Trex in a research report on Monday, May 12th. Finally, Baird R W upgraded shares of Trex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $74.88.

Insider Activity at Trex

In other news, 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 value of $144,728.22. Following the transaction, the senior vice president owned 24,569 shares in the company, valued at approximately $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the 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 transaction, the senior vice president owned 27,527 shares in the company, valued at approximately $1,659,052.29. This trade represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company's stock.

Trex Stock Performance

Shares of NYSE TREX opened at $63.56 on Monday. The firm's 50 day moving average price is $59.07 and its 200-day moving average price is $60.52. The company has a market cap of $6.82 billion, a PE ratio of 34.92, a P/E/G ratio of 2.67 and a beta of 1.51. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $80.74.

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. The firm had revenue of $339.99 million for the quarter, compared to the consensus estimate of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. The business's revenue was down 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, analysts forecast that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

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.

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