Envestnet Portfolio Solutions Inc. Sells 9,042 Shares of Trex Company, Inc. (NYSE:TREX)

Envestnet Portfolio Solutions Inc. lowered its position in Trex Company, Inc. (NYSE:TREX - Free Report) by 45.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,786 shares of the construction company's stock after selling 9,042 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Trex were worth $627,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA grew its holdings in shares of Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock worth $1,004,000 after acquiring an additional 969 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Trex by 26.0% in the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company's stock worth $4,125,000 after acquiring an additional 14,670 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Trex by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,624 shares of the construction company's stock worth $63,965,000 after acquiring an additional 24,554 shares during the period. Atria Investments Inc grew its holdings in shares of Trex by 5.3% in the fourth quarter. Atria Investments Inc now owns 7,594 shares of the construction company's stock worth $524,000 after acquiring an additional 384 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Trex in the fourth quarter worth $17,677,000. Institutional investors own 95.96% of the company's stock.

Trex Trading Down 3.1%

Shares of TREX stock opened at $53.60 on Friday. Trex Company, Inc. has a 12-month low of $49.01 and a 12-month high of $86.56. The stock's 50-day moving average price is $57.03 and its 200-day moving average price is $62.24. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.35 and a beta of 1.52.

Trex (NYSE:TREX - Get Free Report) last issued its 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 firm had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The business's revenue was down 9.0% compared to the same quarter last year. As a group, research analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insider Transactions at Trex

In other Trex news, 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 sale, the senior vice president now directly owns 27,527 shares of the company's stock, valued at $1,659,052.29. The trade was a 5.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Amy M. Fernandez sold 2,366 shares of the business'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 now directly owns 24,569 shares in the company, valued at $1,502,885.73. The trade was 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TREX. JPMorgan Chase & Co. cut their price objective on Trex from $79.00 to $73.00 and set a "neutral" rating for the company in a report on Wednesday, March 5th. Wall Street Zen downgraded Trex from a "hold" rating to a "sell" rating in a research report on Wednesday, March 5th. UBS Group lowered their target price on Trex from $74.00 to $72.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. BMO Capital Markets upgraded Trex from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Thursday, April 17th. Finally, Benchmark reiterated a "buy" rating and set a $80.00 target price on shares of Trex in a research report on Monday, May 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $76.65.

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.

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