Natixis Advisors LLC Raises Position in Trex Company, Inc. (NYSE:TREX)

Key Points

• Natixis Advisors LLC greatly increased its stake in Trex Company, acquiring 656,783 additional shares, which raised its total holdings to 707,843 shares, worth about $41.1 million.
• Institutional investors collectively hold 95.96% of Trex Company's stock, indicating strong institutional interest and confidence in the company.
• Wall Street analysts have varying ratings for Trex, with an average rating of "Moderate Buy" and a price target averaging $74.88, reflecting optimistic growth expectations.

Natixis Advisors LLC increased its stake in shares of Trex Company, Inc. (NYSE:TREX - Free Report) by 1,286.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 707,843 shares of the construction company's stock after purchasing an additional 656,783 shares during the period. Natixis Advisors LLC owned approximately 0.66% of Trex worth $41,126,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Trex by 137.7% in the 1st quarter. GAMMA Investing LLC now owns 1,666 shares of the construction company's stock valued at $97,000 after buying an additional 965 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Trex in the 1st quarter valued at $911,000. State of Alaska Department of Revenue lifted its position in Trex by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,546 shares of the construction company's stock valued at $728,000 after purchasing an additional 330 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Trex by 7.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 14,538 shares of the construction company's stock valued at $1,004,000 after acquiring an additional 969 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in Trex by 26.0% during the first quarter. Janney Montgomery Scott LLC now owns 70,990 shares of the construction company's stock worth $4,125,000 after buying an additional 14,670 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Trex Trading Down 1.1%

Shares of NYSE TREX traded down $0.68 during mid-day trading on Friday, hitting $63.56. The company had a trading volume of 1,525,275 shares, compared to its average volume of 1,432,934. The firm has a 50-day simple moving average of $59.07 and a two-hundred day simple moving average of $60.59. The company has a market capitalization of $6.82 billion, a PE ratio of 34.92, a price-to-earnings-growth ratio of 2.67 and a beta of 1.51. Trex Company, Inc. has a one year low of $49.01 and a one year high of $80.74.

Trex (NYSE:TREX - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The construction company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. Trex had a return on equity of 22.78% and a net margin of 17.69%. The business had revenue of $339.99 million for the quarter, compared to analysts' expectations of $329.11 million. During the same quarter in the prior year, the business earned $0.82 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. Sell-side analysts expect that Trex Company, Inc. will post 2.04 earnings per share for the current fiscal year.

Insider Activity at Trex

In other news, SVP Amy M. Fernandez sold 2,366 shares of the 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jacob T. Rudolph sold 1,500 shares of Trex 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 completion of the sale, the senior vice president owned 27,527 shares of the company's stock, valued at approximately $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. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TREX has been the topic of a number of recent research reports. Stephens reduced their target price on Trex from $73.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, May 12th. Barclays cut their price target on shares of Trex from $67.00 to $54.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. UBS Group decreased their price target on Trex from $74.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Robert W. Baird raised shares of Trex from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $65.00 to $75.00 in a report on Thursday, July 10th. Finally, B. Riley upgraded shares of Trex to a "strong-buy" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $74.88.

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.