Geneva Capital Management LLC Buys 8,688 Shares of Trex Company, Inc. (NYSE:TREX)

Key Points

• Geneva Capital Management LLC increased its holdings in Trex Company by 0.5% in Q1, now owning a total of 1,600,884 shares valued at $93,011,000, making it the 17th largest position in their portfolio.
• Several institutional investors, including Huntington National Bank and Blue Trust Inc., significantly raised their stakes in Trex, showing positive institutional interest in the company.
• Trex reported $0.60 earnings per share for the last quarter, which exceeded analysts' expectations, although revenue decreased by 9% year-over-year.

Geneva Capital Management LLC boosted its position in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,600,884 shares of the construction company's stock after buying an additional 8,688 shares during the quarter. Trex accounts for approximately 1.7% of Geneva Capital Management LLC's investment portfolio, making the stock its 17th largest position. Geneva Capital Management LLC owned approximately 1.49% of Trex worth $93,011,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP raised its stake in Trex by 12.8% during the 4th quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock valued at $317,505,000 after purchasing an additional 523,113 shares during the period. Price T Rowe Associates Inc. MD raised its position in Trex by 463.7% during 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 period. Bamco Inc. NY lifted its stake in Trex by 6.2% in the 4th quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock worth $148,631,000 after acquiring an additional 126,441 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in Trex by 86.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock worth $140,064,000 after acquiring an additional 939,960 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in Trex by 1.8% during the 1st quarter. Conestoga Capital Advisors LLC now owns 2,002,468 shares of the construction company's stock valued at $116,343,000 after acquiring an additional 34,720 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TREX shares. UBS Group reaffirmed a "neutral" rating and set a $74.00 price objective (up from $72.00) on shares of Trex in a research report on Tuesday. B. Riley raised shares of Trex to a "strong-buy" rating in a research note on Monday, July 21st. Barclays cut their price objective on Trex from $67.00 to $54.00 and set an "underweight" rating for the company in a report on Tuesday, April 8th. DA Davidson set a $65.00 target price on Trex and gave the stock a "neutral" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target on Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $74.31.

Trex Stock Down 7.0%

Shares of NYSE TREX traded down $4.64 during trading hours on Wednesday, hitting $61.12. The company had a trading volume of 2,502,368 shares, compared to its average volume of 1,563,991. Trex Company, Inc. has a 1-year low of $49.01 and a 1-year high of $80.74. The firm's 50 day moving average is $59.37 and its 200-day moving average is $60.50. The stock has a market capitalization of $6.55 billion, a P/E ratio of 35.33, a price-to-earnings-growth ratio of 2.77 and a beta of 1.51.

Trex (NYSE:TREX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The construction company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.02. Trex had a return on equity of 21.27% and a net margin of 16.53%. The company had revenue of $387.80 million during the quarter, compared to analysts' expectations of $377.49 million. During the same period last year, the firm posted $0.80 earnings per share. The business's revenue was up 3.0% on a year-over-year basis. On average, sell-side analysts predict that Trex Company, Inc. will post 2.04 earnings per share for the current year.

Insider Buying and Selling

In other Trex news, SVP Amy M. Fernandez sold 2,366 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $61.17, for a total value of $144,728.22. Following the completion of the transaction, the senior vice president owned 24,569 shares of the company's stock, valued at $1,502,885.73. This represents a 8.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the sale, the senior vice president owned 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 disclosure for this sale can be found here. Corporate insiders own 0.71% of the company's stock.

Trex Company 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.