Charles Schwab Investment Management Inc. Has $56.93 Million Position in Trex Company, Inc. (NYSE:TREX)

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Trex Company, Inc. by 5.7%, owning approximately $56.93 million worth of shares as of the latest SEC filing.
• Trex's recent quarterly earnings report showed $0.74 earnings per share, exceeding analysts' expectations, while revenue for the quarter was $387.8 million, a 3% increase year-over-year.
• The stock has a current market cap of $6.77 billion with a price-to-earnings ratio of 36.47, and analysts have a consensus rating of "Moderate Buy" with an average price target of $71.93.

Charles Schwab Investment Management Inc. boosted its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 979,820 shares of the construction company's stock after acquiring an additional 53,196 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.91% of Trex worth $56,928,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State of Michigan Retirement System grew its stake in shares of Trex by 0.8% in the 1st quarter. State of Michigan Retirement System now owns 25,622 shares of the construction company's stock worth $1,489,000 after buying an additional 200 shares during the last quarter. Stephens Inc. AR increased its stake in Trex by 3.7% during the first quarter. Stephens Inc. AR now owns 6,530 shares of the construction company's stock worth $379,000 after acquiring an additional 236 shares during the last quarter. ProShare Advisors LLC lifted its stake in Trex by 5.8% in the fourth quarter. ProShare Advisors LLC now owns 5,013 shares of the construction company's stock worth $346,000 after purchasing an additional 274 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Trex by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 30,000 shares of the construction company's stock valued at $1,743,000 after acquiring an additional 300 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Trex by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock worth $728,000 after buying an additional 330 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Stock Performance

Shares of Trex stock traded down $1.91 during midday trading on Friday, reaching $63.09. 1,363,839 shares of the company's stock traded hands, compared to its average volume of 1,684,933. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $80.74. The company has a market cap of $6.77 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 2.64 and a beta of 1.51. The stock has a 50 day moving average of $60.34 and a 200-day moving average of $59.79.

Trex (NYSE:TREX - Get Free Report) last announced its earnings results on Monday, August 4th. The construction company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.02. Trex had a return on equity of 21.27% and a net margin of 16.53%. The company had revenue of $387.80 million for the quarter, compared to analyst estimates of $377.49 million. During the same period in the prior year, the company posted $0.80 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Trex

In related news, SVP Amy M. Fernandez sold 1,538 shares of Trex stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $64.18, for a total value of $98,708.84. Following the completion of the transaction, the senior vice president directly owned 22,953 shares in the company, valued at approximately $1,473,123.54. This trade represents a 6.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TREX shares. DA Davidson set a $65.00 price objective on shares of Trex and gave the company a "neutral" rating in a research note on Tuesday, August 5th. Robert W. Baird upgraded shares of Trex from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. Baird R W raised shares of Trex from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lowered their price target on Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Finally, UBS Group reaffirmed a "neutral" rating and set a $74.00 price target (up previously from $72.00) on shares of Trex in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Trex has a consensus rating of "Moderate Buy" and a consensus price target of $71.93.

About Trex

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.