Envestnet Asset Management Inc. Purchases 42,578 Shares of Trex Company, Inc. (NYSE:TREX)

Envestnet Asset Management Inc. boosted its stake in Trex Company, Inc. (NYSE:TREX - Free Report) by 13.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 369,825 shares of the construction company's stock after buying an additional 42,578 shares during the period. Envestnet Asset Management Inc. owned 0.34% of Trex worth $21,487,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TREX. Xponance Inc. lifted its holdings in shares of Trex by 0.7% in 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 period. Bessemer Group Inc. lifted its holdings in Trex by 9.1% in the 4th 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 last quarter. Quadrant Capital Group LLC boosted its position in shares of Trex by 11.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,278 shares of the construction company's stock valued at $157,000 after purchasing an additional 243 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Trex by 5.8% in the 4th 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. Finally, Corient Private Wealth LLC raised its holdings in shares of Trex by 8.6% in the 4th quarter. Corient Private Wealth LLC now owns 3,897 shares of the construction company's stock worth $269,000 after purchasing an additional 309 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Trex Trading Down 0.5%

TREX stock traded down $0.31 during mid-day trading on Friday, hitting $61.84. The stock had a trading volume of 1,055,137 shares, compared to its average volume of 1,458,068. The company has a fifty day moving average of $57.70 and a 200 day moving average of $60.81. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $86.56. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 33.98, a PEG ratio of 2.59 and a beta of 1.50.

Trex (NYSE:TREX - Get Free Report) last released its quarterly 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. Trex had a return on equity of 22.78% and a net margin of 17.69%. The company had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. During the same quarter in the prior year, the company posted $0.82 EPS. The firm's revenue was down 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TREX. Loop Capital raised their target price on shares of Trex from $62.00 to $66.00 and gave the stock a "hold" rating in a report on Thursday, July 10th. Barclays cut their target price on Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Stephens decreased their price target on Trex from $73.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. Citigroup cut their price objective on Trex from $78.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Trex in a research note on Tuesday, April 1st. They set a "buy" rating and a $85.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $74.88.

Insider Transactions at Trex

In other Trex news, SVP Jacob T. Rudolph sold 1,500 shares of the firm'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 value of $90,405.00. Following the sale, the senior vice president owned 27,527 shares of the company's stock, valued at $1,659,052.29. This trade represents a 5.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the 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 sale, the senior vice president directly owned 24,569 shares of the company's stock, valued at $1,502,885.73. This represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.71% of the company's stock.

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.