Trex Company, Inc. (NYSE:TREX) Stock Position Lessened by Montanaro Asset Management Ltd

Key Points

• Montanaro Asset Management Ltd has decreased its holdings in Trex Company, Inc. by 7.3% during the first quarter, now owning approximately 0.27% of the company's stock, valued at $17,012,000.
• Shares of Trex opened at $58.72 and have a market capitalization of $6.30 billion, with a PE ratio of 33.94.
• Analysts recently upgraded Trex's rating, with targets ranging from $66.00 to $75.00, indicating a consensus rating of "Moderate Buy."

Montanaro Asset Management Ltd cut its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 7.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 292,800 shares of the construction company's stock after selling 23,100 shares during the period. Trex comprises about 5.0% of Montanaro Asset Management Ltd's holdings, making the stock its 3rd biggest holding. Montanaro Asset Management Ltd owned 0.27% of Trex worth $17,012,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its position in shares of Trex by 12.8% in the fourth quarter. Wasatch Advisors LP now owns 4,599,521 shares of the construction company's stock valued at $317,505,000 after buying an additional 523,113 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position 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. Bamco Inc. NY raised its position in shares of Trex by 6.2% in the fourth quarter. Bamco Inc. NY now owns 2,153,133 shares of the construction company's stock valued at $148,631,000 after buying an additional 126,441 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Trex by 86.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,029,034 shares of the construction company's stock valued at $140,064,000 after purchasing an additional 939,960 shares during the period. Finally, Conestoga Capital Advisors LLC grew its holdings in shares of Trex by 1.8% in the first quarter. Conestoga Capital Advisors LLC now owns 2,002,468 shares of the construction company's stock valued at $116,343,000 after purchasing an additional 34,720 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Trading Down 2.9%

NYSE:TREX traded down $1.91 during mid-day trading on Friday, hitting $63.09. The stock had a trading volume of 1,363,839 shares, compared to its average volume of 1,669,497. The stock has a 50-day simple moving average of $60.34 and a two-hundred day simple moving average of $59.98. The company has a market capitalization of $6.77 billion, a PE ratio of 36.47, a PEG ratio of 2.72 and a beta of 1.51. Trex Company, Inc. has a twelve month low of $49.01 and a twelve month high of $80.74.

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 for the quarter, topping analysts' consensus estimates of $0.72 by $0.02. Trex had a net margin of 16.53% and a return on equity of 21.27%. The company had revenue of $387.80 million for the quarter, compared to analysts' expectations of $377.49 million. During the same quarter last year, the company earned $0.80 earnings per share. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts predict that Trex Company, Inc. will post 2.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Trex news, SVP Amy M. Fernandez sold 1,538 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $64.18, for a total transaction of $98,708.84. Following the sale, the senior vice president owned 22,953 shares of the company's stock, valued at approximately $1,473,123.54. This trade 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. Insiders own 0.71% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TREX. Wall Street Zen raised shares of Trex from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group reaffirmed a "neutral" rating and set a $74.00 target price (up previously from $72.00) on shares of Trex in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lowered their target price on shares of Trex from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Loop Capital reissued a "hold" rating and issued a $66.00 price objective on shares of Trex in a research note on Tuesday, August 5th. Finally, Benchmark reissued a "buy" rating and issued a $80.00 price objective on shares of Trex in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $71.93.

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.