Trex Company, Inc. (NYSE:TREX) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 45.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,786 shares of the construction company's stock after selling 9,042 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Trex were worth $627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Alliancebernstein L.P. boosted its stake in Trex by 54.5% during the 4th quarter. Alliancebernstein L.P. now owns 10,819,326 shares of the construction company's stock worth $746,858,000 after purchasing an additional 3,818,025 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Trex by 463.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,849 shares of the construction company's stock valued at $216,400,000 after buying an additional 2,578,734 shares during the last quarter. Anomaly Capital Management LP boosted its stake in shares of Trex by 228.2% during the fourth quarter. Anomaly Capital Management LP now owns 1,512,783 shares of the construction company's stock worth $104,427,000 after buying an additional 1,051,888 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Trex by 86.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after buying an additional 939,960 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Trex by 87.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,916,134 shares of the construction company's stock worth $132,271,000 after buying an additional 893,675 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trex

In related news, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was 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 approximately $1,502,885.73. This represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jacob T. Rudolph sold 1,500 shares of the stock in a transaction on Thursday, May 15th. The shares were 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 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 own 0.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TREX. Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a research note on Wednesday, March 5th. UBS Group cut their price target on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. decreased their price target on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Stephens dropped their price objective on shares of Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Finally, Barclays reduced their target price on shares of Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a research note on Tuesday, April 8th. Two investment 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. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $76.65.

Trex Price Performance

TREX traded down $0.44 during trading on Monday, reaching $54.44. 1,266,138 shares of the stock were exchanged, compared to its average volume of 1,431,068. The company has a market capitalization of $5.84 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 2.32 and a beta of 1.53. Trex Company, Inc. has a 1 year low of $49.01 and a 1 year high of $86.56. The business's 50 day moving average price is $57.03 and its two-hundred day moving average price is $61.69.

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. The business had revenue of $339.99 million during the quarter, compared to the consensus estimate of $329.11 million. Trex had a return on equity of 22.78% and a net margin of 17.69%. The business's revenue was down 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 EPS. On average, analysts anticipate that Trex Company, Inc. will post 2.04 EPS 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.