Conestoga Capital Advisors LLC Acquires 34,720 Shares of Trex Company, Inc. (NYSE:TREX)

Conestoga Capital Advisors LLC lifted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,002,468 shares of the construction company's stock after purchasing an additional 34,720 shares during the period. Trex accounts for about 1.8% of Conestoga Capital Advisors LLC's holdings, making the stock its 22nd biggest position. Conestoga Capital Advisors LLC owned approximately 1.87% of Trex worth $116,343,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Pictet Asset Management Holding SA lifted its position in shares of Trex by 7.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after purchasing an additional 969 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Trex by 2.2% during the fourth quarter. Rhumbline Advisers now owns 328,954 shares of the construction company's stock valued at $22,708,000 after purchasing an additional 7,163 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Trex by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company's stock valued at $63,965,000 after purchasing an additional 24,554 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Trex by 14.0% during the fourth quarter. Global Retirement Partners LLC now owns 3,806 shares of the construction company's stock valued at $263,000 after purchasing an additional 467 shares in the last quarter. Finally, Atria Investments Inc increased its holdings in Trex by 5.3% during the fourth quarter. Atria Investments Inc now owns 7,594 shares of the construction company's stock worth $524,000 after buying an additional 384 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TREX. Bank of America decreased their price objective on shares of Trex from $85.00 to $79.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Benchmark restated a "buy" rating and set a $80.00 price objective on shares of Trex in a report on Monday, May 12th. UBS Group decreased their price objective on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, May 9th. DA Davidson restated a "neutral" rating and set a $74.00 price objective on shares of Trex in a report on Tuesday, February 25th. Finally, Jefferies Financial Group decreased their price objective on shares of Trex from $81.00 to $71.00 and set a "hold" rating for the company in a report on Tuesday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Trex presently has an average rating of "Hold" and an average target price of $76.65.

Trex Price Performance

Shares of TREX traded down $0.96 during trading hours on Thursday, hitting $52.51. The company's stock had a trading volume of 2,102,825 shares, compared to its average volume of 1,404,303. The business has a 50 day simple moving average of $57.04 and a two-hundred day simple moving average of $63.01. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 2.23 and a beta of 1.52. Trex Company, Inc. has a 52-week low of $49.01 and a 52-week high of $86.56.

Trex (NYSE:TREX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The construction company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company 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 quarter in the previous year, the company earned $0.82 earnings per share. Research analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Activity at Trex

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the business'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 completion of the transaction, the senior vice president now owns 24,569 shares of the company's stock, valued at $1,502,885.73. The trade was a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $60.27, for a total transaction of $90,405.00. Following the completion of the transaction, the senior vice president now directly owns 27,527 shares of the company's stock, valued at approximately $1,659,052.29. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. 0.71% of the stock is owned by corporate insiders.

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.