Edgestream Partners L.P. Invests $809,000 in Trex Company, Inc. (NYSE:TREX)

Edgestream Partners L.P. acquired a new stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,932 shares of the construction company's stock, valued at approximately $809,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TREX. Xponance Inc. increased its holdings in Trex by 0.7% during the fourth quarter. Xponance Inc. now owns 21,605 shares of the construction company's stock valued at $1,491,000 after buying an additional 143 shares during the last quarter. Bessemer Group Inc. increased its holdings in Trex by 9.1% during the fourth quarter. Bessemer Group Inc. now owns 2,034 shares of the construction company's stock valued at $140,000 after buying an additional 170 shares during the last quarter. State of Michigan Retirement System increased its holdings in 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 last quarter. Stephens Inc. AR increased its stake in shares of Trex by 3.7% in the first quarter. Stephens Inc. AR now owns 6,530 shares of the construction company's stock worth $379,000 after purchasing an additional 236 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Trex by 11.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company's stock worth $157,000 after purchasing an additional 243 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Trex Stock Performance

Shares of NYSE TREX traded down $0.31 during mid-day trading on Friday, reaching $61.84. The company's stock had a trading volume of 1,055,137 shares, compared to its average volume of 1,463,064. The stock has a 50-day moving average of $57.78 and a two-hundred day moving average of $60.70. The stock has a market capitalization of $6.63 billion, a P/E ratio of 33.98, a P/E/G ratio of 2.62 and a beta of 1.50. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $86.56.

Trex (NYSE:TREX - Get Free Report) last announced its 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 company had revenue of $339.99 million during the quarter, compared to analyst estimates of $329.11 million. Trex had a net margin of 17.69% and a return on equity of 22.78%. Trex's revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. Analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on TREX shares. UBS Group cut their target price on shares of Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Baird R W raised shares of Trex from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 10th. Citigroup dropped their price objective on shares of Trex from $78.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Loop Capital lifted their price objective on shares of Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a research note on Thursday, July 10th. Finally, BMO Capital Markets raised shares of Trex from a "market perform" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.88.

Insider Activity at Trex

In related news, SVP Amy M. Fernandez sold 2,366 shares of the firm'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 sale, the senior vice president owned 24,569 shares of the company's stock, valued at $1,502,885.73. This trade represents a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly 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. 0.71% of the stock is owned by company 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.