Empower Advisory Group LLC Buys 6,188 Shares of Trex Company, Inc. (NYSE:TREX)

Key Points

• Empower Advisory Group LLC increased its stake in Trex Company, Inc. by 5.4%, acquiring an additional 6,188 shares and totaling 120,026 shares valued at approximately $6.97 million.
• A significant number of institutional investors have recently modified their holdings in Trex, with 95.96% of the stock now owned by such investors.
• Analysts have raised their ratings for Trex; Robert W. Baird upgraded the stock from "neutral" to "outperform," increasing the price target from $65 to $75.

Empower Advisory Group LLC grew its holdings in Trex Company, Inc. (NYSE:TREX - Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 120,026 shares of the construction company's stock after purchasing an additional 6,188 shares during the period. Empower Advisory Group LLC owned approximately 0.11% of Trex worth $6,974,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Huntington National Bank lifted its position in shares of Trex by 227.2% during the fourth quarter. Huntington National Bank now owns 566 shares of the construction company's stock worth $39,000 after acquiring an additional 393 shares in the last quarter. Blue Trust Inc. lifted its holdings in Trex by 55.9% during the 1st quarter. Blue Trust Inc. now owns 1,138 shares of the construction company's stock worth $66,000 after purchasing an additional 408 shares in the last quarter. GAMMA Investing LLC boosted its stake in Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock worth $97,000 after purchasing an additional 965 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Trex during the 4th quarter valued at about $122,000. Finally, Bessemer Group Inc. increased its position in shares of 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 period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the stock in a transaction on 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 owned 22,953 shares in the company, valued at approximately $1,473,123.54. This 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 can be accessed through this link. Also, SVP Jacob T. Rudolph sold 1,500 shares of the business's stock in a transaction 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 sale, 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. Insiders sold 5,404 shares of company stock valued at $333,842 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. B. Riley raised shares of Trex to a "strong-buy" rating in a research note on Monday, July 21st. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of Trex in a report on Monday, May 12th. Robert W. Baird raised Trex from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. DA Davidson set a $65.00 target price on shares of Trex and gave the company a "neutral" rating in a research note on Tuesday. Finally, Citigroup cut their price target 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $71.93.

Trex Stock Performance

TREX traded down $1.66 on Friday, hitting $59.80. 1,548,672 shares of the company were exchanged, compared to its average volume of 1,557,287. The firm has a fifty day simple moving average of $59.65 and a two-hundred day simple moving average of $60.35. The stock has a market capitalization of $6.41 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 2.56 and a beta of 1.51. Trex Company, Inc. has a 12 month low of $49.01 and a 12 month high of $80.74.

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

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.